METAIRIE, La., Feb. 29, 2008 (PRIME NEWSWIRE) -- The Law Offices of Eric J. O'Bell, LLC ("O'Bell") announce that it is commencing an investigation into MF Global, LTD ("MF Global" or the "Company") (NYSE:MF) to determine whether it has violated federal securities laws by issuing materially false and misleading statements to shareholders pursuant to its July 27, 2007 Initial Public Offering ("IPO" or the "Offering").
MF Global, a broker of exchange-listed futures and options worldwide, announced yesterday that an employee trader had lost over $140 million on unauthorized trades in the commodities market. The Company announced that it would take a charge of at least $141.5 million -- a loss that wiped out at least 6% of the Company's equity. Shares of MF Global fell over 25% yesterday. Today, as the Company was downgraded by several major ratings agencies, shares of MF Global fell again to a trading low of $14.00 per share, closing at $17.55.
If you purchased MF Global stock on or after July 27, 2007, and/or have information that would assist in this ongoing investigation, or have other questions related to a loss you've suffered in this investment, you may contact Eric J. O'Bell directly without obligation or cost to you at 504-456-8677; or by email to ejo@obelllawfirm.com.