RICO lawsuit targets MF Global, CME Group, JPM

[pmbug]

This should be "fun" to watch:

... the Philadelphia law firm of Berger and Montague this week brought a class-action lawsuit in federal court in New York, charging theft and misappropriation, against people connected with the failed commodity brokerage firm MF Global, including its former CEO, former New Jersey U.S. Sen. and Gov. Jon Corzine; MF Global's enabler and supposed regulator, CME Group; and the investment bank JPMorganChase. The lawsuit is brought under both the Commodity Exchange Act and the Racketeer-Influenced Corrupt Organizations Act -- the famous RICO. (Maybe the lawsuit can determine where MorganChase put Judge Crater.)

MF Global clients interested in participating in the lawsuit should contact Berger and Montague's Merrill Davidoff at mdavidoff@bm.net or 215-875-3084 or Michael DellAngelo at mdellangelo@bm.net or 215-875-3080.

The lawsuit's complaint is posted at GATA's Internet site here:

http://www.gata.org/files/MFGlobalClassAction-01-12-2012.pdf

http://gata.org/node/10875

 

[DCFusor]

It would be quite the shock to see RICO used for what it was purported to be for when it was passed. It's been used for everything else! With what's gone on between MF and JP, you gotta think "racket", after all.

 

[mmerlinn]

By the time this gets through the courts and the lawyers take theirs off of the top, there will be little if anything left for anyone else. And that is assuming that a court rules in favor of the plaintiffs and assumes a court order will even get enough to pay the lawyers.

Basically looks like job security for a bunch of lawyers.

 

[ancona]

Uh huh.........I see this going exactly nowhere. And it will get there in record time.

 

[DoChenRollingBearing]

I wish them luck, but all I see is that this lawsuit is just going to quietly go away. For a real idea where this may go, it might be worth investigating that Philadelphia law firm, what their success rate is, whether they are just "ambulance chasers", etc.

I really and honestly cannot assign a high probability to this lawsuit actually succeeding.

Justice? Que es eso, señor?

 

[pmbug]

... For a real idea where this may go, it might be worth investigating that Philadelphia law firm, ...

http://www.bergermontague.com/about-us/history

They don't look like slouches.