COLCHESTER, Conn., Dec. 8, 2005 (PRIMEZONE) -- Scott+Scott, LLC (http://www.scott-scott.com), a nationally recognized securities litigation firm, recently reached an agreement with the former CEO Phillip R. Bennett ("Bennett") of Refco, Inc. ("Refco" or the "Company") (Pink Sheets:RFXCQ) to freeze assets he obtained in connection with his sale of Refco stock in the Company's August 11, 2005 initial public offering ("IPO") (http://biz.yahoo.com/prnews/051202/nyf036.html?.v=33 ).
Scott+Scott now announces that as a result of its continued investigations, it has expanded the Class Period to include those bondholders who purchased or otherwise acquired bonds on or after August 5, 2004, in the "original issuance" of the $600,000,000 principal amount of 9% Senior Subordinated Notes Due 2012, pursuant to the "Offering Circular" of July 22, 2004, as well as those bondholders who participated or otherwise acquired Refco securities on or after April 13, 2005, pursuant to the registered "Exchange Offer" of April 6, 2005. As a result, the securities class action complaint filed today addresses the rights of investors who purchased Refco securities between August 5, 2004, and October 18, 2005, inclusive (the "Class Period"). More than ten new defendants have been added to the litigation from the ongoing investigation, including three purchaser/reseller banks and five new individual defendants associated with the issuance, resale and swap of $600 million in Refco bonds. Scott+Scott represents major institutional and individual investors in this securities class action, first filed on October 11, 2005 in the United States District Court for the Southern District of New York, alleging pervasive fraud by Mr. Bennett and other defendants associated with the Refco IPO (Case No. 1:05-cv-08663-DC).
If you wish to discuss this action or have questions concerning your rights, you may contact the firm for more information. Scott+Scott will provide class members with case materials, answer all questions regarding participation and assist with other services the firm provides. There is no cost or fee to class members. Contact Scott+Scott partners Neil Rothstein at nrothstein@scott-scott.com, 800/332-2259, ext. 22, or 619/251-0887 (cell) or David R. Scott at drscott@scott-scott.com or 800/404-7770. Institutional Investors also may contact the firm at InstitutionalInvestors@scott-scott.com.
Scott+Scott, LLC, a nationally recognized securities litigation firm with offices in Connecticut, California and Ohio, has recovered hundreds of millions of dollars on behalf of defrauded investors. Superior results have been achieved in securities actions against Mattel, Sprint, Royal Dutch/Shell, ImClone and Northwestern Energy and the firm is currently lead counsel in a securities action against Halliburton.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca