Corzine Sued For Mismanaging and Causing Collapse of MF Global

The MF Global bankruptcy trustee has sued John Corzine, who used to the head the giant money manager. This has been a long time coming, according to several shareholders of the fund and investors in the fund, since much of their recovery is going to come from the wallets, and D&O insurance policies covering, the former managers and directors of the fund.

The claims are for “gross negligence” in managing the fund. That’s a lot less than what had been reported earlier. To read more, click here.