Plaintiffs may get a second chance to go after MF Global Ltd. and other defendants for the drop in the firm’s stock price following revelations one of its traders lost $141.5 million in a single morning on wheat futures.
In its latest discussion of the “bespeaks-caution” rule, the 2nd U.S. Circuit Court of Appeals vacated a lower court judge’s dismissal of a claim that MF Global’s prospectus for its 2007 public offering failed to disclose weaknesses in its risk management system.
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