NEW ORLEANS, March 22, 2008 (PRIME NEWSWIRE) -- Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of MF Global, Ltd. ("MF" or the "Company") (NYSE:MF) who purchased shares of the Company in its Initial Public Offering (``IPO'') on or about July 20, 2007 or in the open market thereafter through February 28, 2008 (the ``Class Period''), have only until May 9, 2008 to move for appointment as Lead Plaintiff. KGS has filed suit against MF in the United States District Court for the Southern District of New York. No class has yet been certified in this action.
UNLESS A CLASS IS CERTIFIED, YOU ARE NOT PERSONALLY REPRESENTED BY COUNSEL UNLESS YOU RETAIN AN ATTORNEY.
If you would like to discuss your legal rights, you may e-mail or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, via cell phone after hours at 504-301-7900, or by email at lewis.kahn@kgscounsel.com.
MF and certain of its officers and directors - collectively, "defendants" - are charged with including, or allowing the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in violation of the Securities Act of 1933. In particular, the Complaint alleges that only on February 28, 2008 - after defendant Man Group, MF Global's corporate parent - sold over $3.213 billion of its own stock in connection with the IPO - that MF revealed the truth about the Company, including that its risk monitoring, management and control systems were so deficient that an employee trader, trading for his own account, had accumulated almost $150 million in unauthorized trading losses in a period of less than 24 hours. Subsequently, on this news, MF shares have fallen precipitously.
If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than May 9, 2008. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice. You may also choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900, or by email at lewis.kahn@kgscounsel.com. To learn more about KGS, you may visit www.kgscounsel.com. KGS is a law firm focused on securities class action litigation with offices in New Orleans and New York City (www.kgscounsel.com).
KGS' lawyers have significant experience litigating complex securities and fraud class actions. Among other cases, KGS has been appointed Lead or Co-Lead Counsel in the following securities cases: In re: U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In re Optionable, Inc. Securities Litigation, S.D.N.Y.; In re Xethanol Corporation Securities Litigation, S.D.N.Y.; Pixelplus Co. Ltd., S.D.N.Y.; In re Witness Systems Inc. Securities Litigation, N.D. Ga.; Whitney Information Network, M.D. Fla.; Bodisen Biotech, Inc., S.D.N.Y.; Pegasus Wireless Corp., S.D. Fla.; In re Xinhua Finance Media, Ltd. Securities Litigation, S.D.N.Y.; Terayon Comm. Systems Inc., N.D. Cal.; Gaming Partners, D. Nev.; and In re BigBand Networks, Inc. Securities Litigation, N.D. Cal.
SPECIAL NOTICE: KGS encourages you to carefully evaluate any firm you may consider to represent your interests in the MF class action. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the MF action in particular, AND especially the quality of the firm's work. Interested shareholders are encouraged to call for consultation and to request more information about KGS, including a request for KGS' complaint filed in this action.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca/