Updates on the Peregrine (PFG) case

Discussion in 'Retail Brokers' started by comintel, May 11, 2013.

  1. So far, domestic futures account holders have received 30% with prospects of another 25%, in view of money the trustee has found so far.

    (Accounts designated for trading on foreign exchanges look to fare better and stand to get close to 100% - I may have misdescribed this class earlier as forex traders, which is not correct - they may get nothing).

    But here is potentially good news in the area of finding more money by suing the banks:

    Peregrine Financial may have "viable" claims vs banks -trustee

    Peregrine Financial may have viable claims vs banks -trustee | Reuters

    For all of the details of the class action suit, incorporated in the Trustee's motion to stay it for now, and his own submissions. see:

  2. Very hopeful news:


    "CFTC Files Complaint against U.S. Bank, N.A. Alleging Unlawful Use of Peregrine Financial Group, Inc.’s Customer Segregated Funds and Violation of Customer Segregation Laws"

    Hopefully this will be the first step toward US Bank's ultimately making good on all of the bankruptcy losses of PFG customers. It can easily afford to do so.