MF Global settles suit over 2011 losses
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New York
MF GLOBAL Holdings Ltd settled a US government lawsuit, agreeing to pay US$1.2 billion in restitution and a US$100 million fine for customer losses tied to the company's 2011 collapse.
The US Commodity Futures Trading Commission (CFTC) sued MF Global and company officials including former chief executive officer Jon Corzine last year for failing to properly supervise employees as the firm spiralled towards bankruptcy. US District Judge Victor Marrero in Manhattan signed an order on Tuesday approving the pact.
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