MF Global Holdings Ltd. settled a U.S. government lawsuit, agreeing to pay $1.2 billion in restitution and a $100 million fine for customer losses tied to the company’s 2011 collapse, Bloomberg News reported on Friday. The U.S. Commodity Futures Trading Commission sued MF Global and company officials including former Chief Executive Officer Jon Corzine last year for failing to properly supervise employees as the firm spiraled toward bankruptcy. U.S. District Judge Victor Marrero in Manhattan signed an order earlier this week approving the pact. Customers have already received most of what they are owed, according to the CFTC, the main regulator of MF Global’s failed brokerage unit, MF Global Inc. The agency claimed that MF Global Holdings is responsible for the brokerage’s failure to notify the agency of deficiencies in customer accounts, false statements and improper investments.
