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Law Offices of Howard G. Smith Announces Investigation of MF Global Holdings Ltd.

^{Published on 2011-11-04 19:01:01 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against MF Global Holdings Ltd. (aMF Globala or the aCompanya) (OTC: MFGLQ) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company were false and misleading, in connection with its issuance of 3.375% Convertible Senior Notes and 6.250% Senior Notes.

The investigation is related to MF Globalas October 31, 2011 disclosure that it was declaring bankruptcy. Recently, the Company revealed that it had $6.3 billion of sovereign debt in troubled countries such as Italy and Spain, which was nearly five times MF Globalas equity of more than $1 billion. On the news of MF Globalas impending bankruptcy, trading of MF Global shares was halted on the New York Stock Exchange and the Company defaulted on its bonds. MF Global was the first company in more than three years to default on its bonds while rated investment grade by Standard& Pooras, and joined the very thin ranks of companies to default on debt before the first interest-rate payment came due.

If you purchased MF Global 3.375% Convertible Senior Notes or 6.250% Senior Notes, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].

Individuals with knowledge that may help the investigation are encouraged to contact the firm. Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes the SEC to pay monetary rewards to whistleblowers who provide the SEC with original information relating to a possible violation of securities laws that has occurred, is ongoing, or is about to occur. Dodd-Frank prohibits employer retaliation against whistleblowers and, if the information leads to successful SEC enforcement actions or certain related actions, provides for awards of up to 30% of the monetary sanctions collected.