Corzine Loses Bid for Dismissal of CFTC’s MF Global Lawsuit
Source: Bloomberg News
Jon Corzine lost his bid for dismissal of the U.S. Commodity Futures Trade Commission’s lawsuit over the 2011 collapse of MF Global Holdings Ltd.
The requests of Corzine and former MF Global Assistant Treasurer Edith O’Brien to throw out the case are “without merit,” U.S. District Judge Victor Marrero said in a ruling filed Jan. 17 in Manhattan federal court.
The agency alleged in its complaint that the executives are liable for the company’s illegal transfers of funds from customer accounts. Marrero said it was too soon in the case to rule on whether the CFTC can prove its claims.
“At this state of the proceedings, the court must accept the pleadings as true, and draw any reasonable inferences and resolve any ambiguities in favor of the opponent of a motion to dismiss,” Marrero wrote.
Read more: http://www.businessweek.com/news/2014-01-21/corzine-loses-bid-for-dismissal-of-cftc-s-mf-global-lawsuit-1
Wow, what is WRONG with governors of New Jersey?
Jim McGreevey: Resigned in 2004 due to being threatened with a sexual harassment lawsuit
Corzine: This MF Global mess
Christie: The Bridge