While many victims of the MF Global collapse are still waiting
on various government investigations to lead to a prosecution of
those responsible, civil litigation involving losses incurred by
former MF Global commodity customers can move forward as a
Multidistrict Litigation (MDL) Panel consolidated most of those
actions. On May 21, U.S. District Court Judge Victor Marrero for
the Southern District of New York assigned interim co-lead counsels
for the various civil MF Global commodities customer lawsuits. The
judge assigned law firms Berger & Montague P.C. and Entwistle
& Capucci LLP as interim co-lead counsels "responsible for the
tactical management and coordination of all legal work done on
behalf of the putative commodities futures customer class."
Berger and Entwistle were also designated as members of the
executive committee.... The executive committee will decide
all issues of case strategy according to the MDL ruling.
The ruling states, "The Consensus Plaintiffs have already begun
to create the infrastructure necessary to effectively and
efficiently conduct the commodities action by organizing a
leadership structure to include other plaintiff's counsel in
decisionmaking and work assignements."
View the full article
Download the ruling here.