In what is not the first and certainly will not be the last, Berger & Montague has filed a lawsuit in the Southern District of New York against Jon Corzine, numerous executives of MF Global, CME Group and JP Morgan related to the missing segregated funds of MF Global’s commodities customers.
There are four named plaintiffs but the suit is seeking class action status.
While several suits have been filed in numerous jurisdictions, this suite is the first that names CME Group according to Michael C. Dell’ Angelo an attorney with Berger & Montague.
The New York court has put a Jan. 30 deadline on MF Global cases and a Judicial Panel on Multidistrict Litigation (JPML) motion is believed to have been field. A JPML motion would seek to consolidate all related cases in one court.
While several cases have been filed and several more are expected, this filing (linked below) provides a very detailed report on the events leading up to the bankruptcy filing.