Ex-MF Global Customers Take Aim at Defense Costs

Former MF Global customers are urging a judge to exercise caution in allowing ex-officials of the failed brokerage to continue tapping an insurance policy to pay for the defense of lawsuits stemming from the firm’s collapse. The former MF Global officials won’t back down “until the court turns off the spigot and the litigation finally has serious financial consequences to them,” a group of customers backing a class-action lawsuit against former MF Global leaders wrote in a letter filed Monday in U.S. Bankruptcy Court in Manhattan. More in the Wall Street Journal here.