Zamansky & Associates Files Federal Class Action Lawsuit on Behalf of MF Global Employees
December 5, 2011 - Zamansky & Associates today filed a federal class action lawsuit on behalf of MF Global employees who purchased MF Global shares .
** View Class Action Complaint
The suit is brought against the firm’s former Chief Executive Jon Corzine, other senior executives and directors on behalf of current and former employees who acquired stock in the company while Corzine led the firm. The complaint alleges that the defendants provided false information regarding the company’s financial condition and made statements that artificially inflated the stock price.
Plaintiffs are seeking class action status for all employees who acquired MF Global shares between May 20, 2010 and Nov. 3, 2011 through company-supported plans. Describing the case theory, Jacob Zamansky said, “Jon Corzine and the board breached their fiduciary duty to their employees and destroyed their careers and retirement savings.” At the time of the company’s bankruptcy Oct. 31, the firm had close to 2,900 employees.
Zamansky & Associates is working with co-counsel Girard Gibbs LLP on this matter.
Read Wall Street Journal article about class action lawsuit
Jacob ("Jake") H. Zamansky is one of the country’s foremost authorities on securities arbitration law, the legal recourse for investors claiming broker wrongdoing, or for brokers claiming wrongful termination or other misconduct by their employer. Zamansky & Associates, the New York-based law firm he founded, represents both individuals and institutions in complex securities, hedge fund, and employment arbitrations.
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