Several customers of Peregrine Financial Group are suing the failed futures brokerage's chief executive officer, Russell Wasendorf Sr., and other top management for allegedly stealing more than $200 million in client funds, Reuters reported yesterday. Peregrine clients filed three separate lawsuits in July in federal court in Chicago, each seeking class-action status. Late on Tuesday, lawyers for two of those cases filed requests to be reassigned to U.S. District Judge Rebecca Pallmeyer, who is already hearing the Commodity Futures Trading Commission's civil case against the firm and its CEO. A judge will hear the motions today.
