MF Global Q1 results boost share price but second legal battle looms
15 Aug 2008
MF Global’s share price rose 12% last Friday after the futures and options brokerage reported better than expected first quarter results. However, the turbulent fortunes of MF Global has continued with law firm, Weiss & Lurie announcing this week that it had filed a class action lawsuit against it.
The results were not good, however. MF Global’s revenues fell to $913m in the first quarter from $1.57bn a year earlier for the same period. Net income dropped to $14.4m, down from $72.89m reported in Q1 2007....
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