A federal judge yesterday allowed a lawsuit to move forward that seeks to hold former MF Global Holdings Ltd. Chief Executive Officer Jon Corzine and other executives responsible for the brokerage's collapse, Reuters reported yesterday. U.S. District Judge Victor Marrero said that it was reasonable to infer someone "did something wrong to set in motion such an extraordinary chain of events causing such extensive harm to so many people and interests." But the judge also called the litigation "wasteful and rancorous" and chastised the parties for failing to come together to resolve the matter "in a just and efficient way." Judge Marrero also chided lawyers for the customers for filing claims that "fly in the face of clear precedent." He dismissed parts of the lawsuit, including claims pending against accounting firm PricewaterhouseCoopers.
