News & Media
Final Settlement Reached in MF Global Holdings Ltd. Investment Litigation
July 26, 2016
NEW YORK, NY, July 26, 2016 – On July 6, 2016, the remaining parties in the multi-district litigation arising from the 2011 collapse of MF Global Holdings Ltd. (“Holdings”) and is futures commission merchant subsidiary, MF Global Inc. (“MFGI”), executed a final settlement which concludes the litigation for $159 million. The majority of settlement proceeds, other than a $2-5 million interest payment to former customers of MFGI represented by Entwistle & Cappucci LLP (“E&C”) as co-lead counsel, will be paid to the creditors of MFGH as the result of a prior settlement in March 2014 negotiated by E&C under which former customers of MFGI received 100% of the final $484 million of $1.6 billion in missing customer deposits when MFGI collapsed in exchange for an assignment of customers’ claims against former management of MFGH and MFGI. That settlement followed two prior settlements which returned $311 million in deposits to customers. A copy of the settlement agreement is linked below.