Lieff Cabraser Heimann & Bernstein, LLP

Lieff Cabraser Announces Class Action Lawsuits On Behalf Of Purchasers of MF Global Holdings Ltd. Securities

Lieff Cabraser announces that class action lawsuits have been brought on behalf of purchasers of the securities of MF Global Holdings Ltd. (“MF Global” or the “Company”) (Pinksheets: MFGLQ.PK) between November 5, 2009 and October 28, 2011, inclusive (the “Class Period”).

If you purchased MF Global securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 3, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

MF Global shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358.

Background on the MF Global Securities Class Litigation

The actions are brought against certain current and former officers and directors of MF Global for violations of the Securities Exchange Act of 1934. MF Global, together with its subsidiaries, operated as a broker of commodities and listed derivatives. The Company provided trading and hedging solutions across various markets for futures and options, commodities, fixed income, equities, and foreign exchange.

The actions allege that throughout the Class Period, defendants made material misrepresentations and omissions regarding MF Global’s financial results and business prospects. Specifically, defendants failed to disclose that: (1) MF Global was materially undercapitalized; (2) the Company was suffering from serious liquidity pressures as a result of its exposure to the European debt crisis; (3) MF Global’s liabilities were materially understated on its balance sheet due to its practice of temporarily reducing its short-term borrowings at the end of each quarter before reporting its quarterly financial results (also known as “window dressing”); (4) the Company lacked adequate internal controls; and (5) the Company’s reported financial results were not prepared in accordance with Generally Accepted Accounting Principles.

On October 24, 2011, Moody’s Investor Services downgraded MF Global’s credit rating to nearly junk status, citing the Company’s significant risk exposure to European debt. On October 25, 2011, the Company reported a net loss of $186 million for the second quarter ended September 30, 2011 and disclosed more than $6 billion in European debt exposure. On this news, MF Global’s stock price fell $1.69 per share, or more than 47%, to close at $1.86 on October 25, 2011.

On October 26, 2011, Standard & Poor’s announced that it may also downgrade MF Global’s credit rating to junk status. On the following day, Fitch Ratings downgraded MF Global’s credit rating to junk status, explaining that the Company’s “increased risk taking activities have resulted in sizable concentrated positions relative to the firm's capital base, leaving MF vulnerable to potential credit deterioration and/or significant margin calls.” On this news, MF Global shares fell another $0.66 per share, or more than 35%, over three consecutive trading days to close at $1.20 on October 28, 2011.

On October 31, 2011, the New York Stock Exchange halted trading in MF Global stock and, later that day, MF Global announced it had filed for bankruptcy. MF Global shares began trading over-the-counter on November 2, 2011. On November 4, 2011, The Wall Street Journal reported that “[f]or the past two years, MF Global Holdings Ltd. may have disguised its debt levels to investors by temporarily slashing the debt it was carrying before publicly reporting its finances each quarter.”

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. In compiling the list, the National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs’ law firms in the United States to receive this honor for the last nine consecutive years.

For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Source/Contact for Media Inquiries Only:

Sharon M. Lee
Lieff Cabraser Heimann & Bernstein, LLP
Telephone: (800) 541-7358