NEW YORK, Oct. 13 – LAWFUEL – The Law News Network — Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court
for the Southern District of New York, on behalf of all persons who purchased
the common stock of Refco, Inc. (“Refco” or the “Company”) (NYSE: RFX) between
August 11, 2005 and October 7, 2005, inclusive, (the “Class Period”) against
defendants Refco and certain officers of the Company.
The case name is Weiss v. Refco, Inc., et al. A copy of the complaint
filed in this action is available from the Court, or can be viewed on the Wolf
Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com.
The complaint alleges that defendants violated the federal securities laws
by issuing materially false and misleading statements throughout the Class
Period that had the effect of artificially inflating the market price of the
Company’s securities.
The complaint further alleges that throughout the Class Period, Refco
represented to the investment community that it was a highly-successful
financial services company, while concealing: (1) that it lacked adequate
internal controls; and (2) the Company’s rosy financial statements from fiscal
2002 to the first quarter of 2006 were unreliable; and (3) that the Company’s
financial projections were irresponsible considering the knowledge defendants
possessed of the Company’s actual financial situation.
If you purchased Refco common stock during the Class Period, you may
request that the Court appoint you as lead plaintiff by December 12, 2005. A
lead plaintiff is a representative party that acts on behalf of other class
members in directing the litigation. In order to be appointed lead plaintiff,
the Court must determine that the class member’s claim is typical of the
claims of other class members, and that the class member will adequately
represent the class. Under certain circumstances, one or more class members
may together serve as “lead plaintiff.” Your ability to share in any recovery
is not, however, affected by the decision whether or not to serve as a lead
plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice,
to serve as your counsel in this action.
Wolf Haldenstein has extensive experience in the prosecution of securities
class actions and derivative litigation in state and federal trial and
appellate courts across the country. The firm has approximately 60 attorneys
in various practice areas; and offices in Chicago, New York City, San Diego,
and West Palm Beach. The reputation and expertise of this firm in shareholder
and other class litigation has been repeatedly recognized by the courts, which
have appointed it to major positions in complex securities multi-district and
consolidated litigation.
If you wish to discuss this action or have any questions, please contact
Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Gustavo
Bruckner, Esq., George T. Peters, Esq., or Derek Behnke), via e-mail at
classmember@whafh.com or visit our website at http://www.whafh.com. All e-mail
correspondence should make reference to Refco.
