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The New DU. Reply #38: Refco tumbles as CEO asked to take leave of absence
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UpInArms
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Mon Oct-10-05 10:20 AM
Response to Reply #26 |
| 38. Refco tumbles as CEO asked to take leave of absence |
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http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38635.4676864236-845473680&siteID=mktw&scid=0&doctype=806&NEW YORK (MarketWatch) -- Shares of Refco Inc. (RFX) tumbled 30% after the brokerage firm said it asked its chairman and chief executive to take a leave of absence after discovering that it was owed $430 million by an entity controlled by Bennett. The company determined that prior financial statements for the fiscal years ending 2002 through 2005 and for May 205 should not be relied on. The company added that its Refco Group and Refco Finance units will likely have to delay the filing of their respective quarterly reports. The stock was last down $8.61 at $19.90.
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