San Diego, Nov. 18, 2011 (Shareholders Foundation) -- An investor filed a lawsuit on behalf of purchasers of securities MF Global Holdings Ltd. between February 3, 2011 and October 31, 2011 and certain purchasers of MF Global's 1.875% Convertible Senior Notes due 2016, 3.375% Convertible Senior Notes due 2018, and 6.25% Senior Notes due 2016, against certain officers and directors of MF Global Holdings Ltd. Over alleged Violations of Federal Securities Laws. According to the complaint the plaintiff alleges on behalf of behalf of purchasers of the publicly traded securities of MF Global Holdings Ltd. between February 3, 2011 and October 31, 2011, including those who purchased MF Global Holdings' 1.875% Convertible Senior Notes due 2016, 3.375% Convertible Senior Notes due 2018, and 6.25% Senior Notes due 2016 that certain officers and directors of MF Global, including Jon S. Corzine, and the underwriters of the February 11, 2011 offering of the 1.875% Convertible Senior Notes, the August 2, 2011 offering of the 3.375% Convertible Senior Notes, and the August 8, 2011 offering of the 6.25% Senior Notes violated the Securities Exchange Act of 1934 and the Securities Act of 1933. The plaintiff alleges that between February 3, 2011 and October 31, 2011, defendants issued materially false and misleading statements regarding the Company's business and financial results. Specifically, so the lawsuit, MF Global Holdings’ exposure to European sovereign debt was not fully described for investors and while the extent of its exposure was concealed defendants allegedly were able to raise $900 million in the Offerings stated above. Between February 3, 2011 and October 31, 2011 MF Global Holdings' stock traded as high as $8.84 per share on April 1, 2011. Then on October 25, 2011, MF Global Holdings disclosed information about its $6.3 billion exposure to European sovereign debt and also issued a press release announcing its second quarter fiscal 2012 results, including a net loss of $191.6 million, or ($1.16) diluted earnings for share. MF Global Holdings stock declined $1.69 per share to close at $1.86 per share and the above stated Mf Gobal Holdings Notes declined to below 50% of par. Then on October 24, 2011, after the market closed, Moody's Investors Service downgraded the long-term ratings of MF Global Holdings Ltd., including its senior, unsecured debt rating to BAA3 from BAA2. Then Moody's Investor Service and Fitch Ratings then slashed the Company's credit rating on October 27, 2011. Subsequently, on October 28, 2011, the NYSE halted trading in MF Global Holdings stock at $1.20 per share. Then on October 31, 2011, MF Global Holdings announced that the New York Federal Reserve had suspended MF Global Holdings' designation as a primary dealer and that MF Global Holdings Ltd. had filed for Chapter 11 bankruptcy. The MF Global Holdings’1.875% Convertible Senior Notes due 2016, 3.375% Convertible Senior Notes due 2018, and 6.25% Senior Notes due 2016 have defaulted and MF Global Holdings Ltd has admitted to federal investigators that money is missing from its customer accounts.