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Business Jon Corzine

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  • TRENTON, N.J.— After originally seeking $8.9 billion, New Jersey's $225 million settlement with ExxonMobil over dozens of polluted sites is a reasonable compromise considering the substantial legal risks the state faced, a judge ruled Tuesday in approving a deal that Gov. He noted that the settlement is on top of Exxon's responsibility to clean up the sites,...

  • NEW YORK, July 24- The trustee liquidating the bankrupt brokerage unit of Jon Corzine's MF Global Holdings Ltd on Friday announced an agreement that would enable unsecured creditors to recoup nearly everything they are owed, and largely conclude the unit's nearly four-year liquidation. James Giddens, the trustee, said he would sell various claims held by the...

  • NEW YORK, July 20- MF Global Holdings Ltd commodities customers may pursue their lawsuit seeking hundreds of millions of dollars from former chief executive Jon Corzine and other officials over the brokerage's bankruptcy as a class action, a federal judge said on Monday. District Judge Victor Marrero in Manhattan said it was desirable to let the roughly...

  • NEW YORK, July 7- Jon Corzine and other former MF Global Holdings Ltd officials have reached a $64.5 million settlement of litigation brought by investors seeking to hold them liable for the now-defunct futures brokerage's 2011 bankruptcy. The class action accord would boost the investors' recovery to $204.4 million, including $74.9 million from...

  • Corzine, others settle MF Global lawsuit for $64.5 mln Tuesday, 7 Jul 2015 | 10:56 AM ET

    NEW YORK, July 7- Jon Corzine and other former executives and directors at MF Global Holdings Ltd have reached a $64.5 million settlement of litigation in which investors sought to hold them responsible for the now-defunct futures brokerage's 2011 bankruptcy. The preliminary all-cash settlement was disclosed in a Tuesday court filing, and requires...

  • NEW YORK, April 17- PricewaterhouseCoopers agreed to pay $65 million in cash to settle a lawsuit claiming it fraudulently deceived MF Global Holdings Ltd investors about its auditing of the now-defunct brokerage, which was run by former New Jersey Governor Jon Corzine. The preliminary settlement with investors in MF Global's common stock, bonds and...

  • PwC to pay $65 mln to resolve lawsuit over MF Global Friday, 17 Apr 2015 | 3:17 PM ET

    NEW YORK, April 17- PricewaterhouseCoopers has agreed to pay $65 million to resolve a lawsuit claiming it deceived investors when it was auditing MF Global Holdings Ltd, the now-defunct brokerage once run by former New Jersey Governor Jon Corzine. The preliminary settlement was disclosed in papers filed on Friday with the U.S. District Court in Manhattan, and...

  • NEW YORK, March 25- Unsecured creditors of MF Global Holdings' failed brokerage unit may soon receive $461 million in repayment, raising recoveries to 72 percent of claims lodged when it collapsed in 2011, the firm's trustee said on Wednesday. Trustee James Giddens filed court papers seeking a New York bankruptcy judge's approval for the payout.

  • MF Global customers to recoup full $6.7 billion owed Thursday, 3 Apr 2014 | 2:58 PM ET
    MF Global sign is seen in the office building where MF Global Holdings Ltd have offices in Manhattan on November 1, 2011 in New York.

    Nearly 26,500 former customers of MF Global Holdings' bankrupt brokerage will recoup all $6.7 billion they are owed, its trustee said.

  • Judge orders MF Global to pay customers $1 billion Monday, 18 Nov 2013 | 12:53 PM ET
    MF Global sign is seen in the office building where MF Global Holdings Ltd have offices in Manhattan on November 1, 2011 in New York.

    A judge ordered MF Global to return more than $1 billion to harmed customers and pay an additional $100 million penalty as part of a civil settlement.

  • Corzine, banks must face MF Global lawsuit, judge says Tuesday, 12 Nov 2013 | 2:54 PM ET
    Jon Corzine testifies at a Capitol Hill hearing on Dec. 15, 2011.

    Former MF Global CEO Jon Corzine lost his bid to dismiss a lawsuit seeking to hold him, colleagues and other banks accountable for the firm's demise.

  • It's found money for MF Global customers Wednesday, 6 Nov 2013 | 10:45 AM ET

    The move, approved by a bankruptcy court judge, will repay MF Global customers by reallocating funds initially earmarked for non-customer unsecured creditors.

  • MF Global white knight James Koutoulas, still fighting Thursday, 31 Oct 2013 | 12:00 AM ET
    MF Global white knight James Koutoulas, still fighting

    Two years ago MF Global blew up taking down $1.6 billion of customer money. In this "Santelli Exchange Extra," CNBC's Rick Santelli talks with James Koutoulas, the man who successfully led the battle to reclaim those lost funds.

  • Financial watchdog with bite to depart his agency Tuesday, 1 Oct 2013 | 12:03 PM ET
    David Meister, the head of the Commodity Futures Trading Commission's enforcement unit, in his office in Washington, Sept. 27, 2013.

    David Meister is planning to step down as head of CFTC enforcement, even as big battles against financial titans have yet to play out.

  • CFTC Demands Jury Trial for MF Global

    CNBC's Kate Kelly offers details of the lawsuit against Former MF Global CEO Jon Corzine, and former executive Edith O'Brien; and CFTC Commissioner Bart Chilton, wants to ensure customers that the government is looking out for them.

  • CFTC Sues MF Global Executives Thursday, 27 Jun 2013 | 2:30 PM ET
    CFTC Sues MF Global Executives

    In a 4-count suit, the CFTC has charged former MF Global CEO Jon Corzine and former MF Global executive Edith O'Brien, reports CNBC's Kate Kelly.

  • CFTC Suing Defunct Brokerage MF Global Thursday, 27 Jun 2013 | 1:51 PM ET
    CFTC Suing Defunct Brokerage MF Global

    CNBC's Kate Kelly reports the charges against Jon Corzine will include a failure to supervise, and the charges against the firm include a misuse of funds. Kayla Tausche and John Carney discuss.

  • Corzine In the Crosshairs Tuesday, 25 Jun 2013 | 4:34 PM ET
    Corzine In the Crosshairs

    Federal regulators are expected to file civil charges against former MF Global chief Jon Corzine for his role in the collapse of the firm, reports CNBC's Kayla Tausche. Thomas Curran, Peckar & Abramson, and Andrew Stoltmann, Stoltmann Law Offices, discuss the case.

  • Corzine Civil Suit? Tuesday, 25 Jun 2013 | 10:25 AM ET
    Corzine Civil Suit?

    The CFTC is looking to sue Jon Corzine for the collape of MF Global and the firm's misuse of customer funds, reports CNBC's Kayla Tausche.

  • MF Global Trustee Slaps Ex-CEO Corzine With Lawsuit Tuesday, 23 Apr 2013 | 11:12 AM ET
    Jon Corzine

    Jon Corzine, the former chief executive of MF Global Holdings, was sued by the trustee for the futures and commodities brokerage, who accused him of contributing to the company's October 2011 bankruptcy.