Scott+Scott, LLC Action Against Refco Inc. Amended to Name Additional Defendants in the Midst of Refco Bankruptcy

COLCHESTER, Conn., Oct. 27  /PRNewswire-FirstCall/ -- Scott+Scott, LLC (http://www.scott-scott.com/) represents investors in a securities class action filed in the United States District Court for the Southern District of New York against Refco, Inc. ("Refco") (NYSE:RFX) (Case No. 1:05-cv-08886-UA). Refco securities purchasers between August 11, 2005, and October 10, 2005, inclusive (the "Class Period") are putative class members.

The original complaint in this action named Phillip R. Bennett, Gerald M. Sherer, Leo R. Breitman, David V. Harkins, Scott L. Jaeckel, Thomas H. Lee, Ronald L. O'Kelley, Scott A. Schoen, Credit Suisse First Boston LLC, Goldman, Sachs & Co., and Grant Thornton LLP, as defendants.  The October 21, 2005 amended complaint now also names as defendants: Nathan Gantcher, Banc of America Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Sandler O'Neill & Partners, LP, HSBC Securities (USA) Inc., William Blair & Company LLC, Harris Nesbitt Corp., CMG Institutional Trading LLC, Samuel A. Ramirez & Company Inc., Muriel Siebert & Co. Inc. LP, and Utendahl Capital Partners LP.

If you wish to discuss this action or have questions concerning this notice or your rights as a class member, you may contact this firm for more information. Scott+Scott will provide class members with case materials, answer all questions regarding participation and assist investors with other services the firm provides. There is no cost or fee to you. Contact Scott+Scott partner Neil Rothstein (, 800/332-2259, ext. 22 or cell 619/251-0887). Institutional Investors may also contact the firm at .

The complaint alleges that during the Class Period, Refco and the defendants violated federal securities laws, causing investors to purchase stock in reliance on a false prospectus.  Specifically, the complaint alleges that during the Class Period, defendants knew and concealed (a) deficient and defective internal operational controls in existence at the Company for a period of several years before the commencement of the Company's IPO and (b) that the Company's deficient internal operational controls concealed the true picture of the Company's financial progress and business prospects, among other allegations.

The plaintiff is represented by Scott+Scott, LLC, which has significant experience in prosecuting investor class actions. The firm dedicates itself to client communication and satisfaction and currently is litigating major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, charities, foundations, individuals and other entities worldwide. Cases currently being litigated and/or investigated by Scott+Scott, LLC include: DHB Industries Inc.; Boston Scientific Corp.; Immucor Inc.; Abercrombie & Fitch Co.; Cott Corp.; Packeteer Inc.; Mercury Computer Systems Inc.; and TNS Inc., among others. 

DATASOURCE: Scott+Scott, LLC



CONTACT:  Neil Rothstein, 1-800-332-2259, ext. 22 or cell

[phone], , or Institutional Investors,





Web site:  http://www.scott-scott.com/ 

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