SOURCE: Sarraf Gentile LLP

October 12, 2005 12:44 ET

Sarraf Gentile LLP Announces Class Action Against Refco, Inc.

NEW YORK, NY -- (MARKET WIRE) -- October 12, 2005 -- The Law Firm of Sarraf Gentile LLP today announced that a securities class action has been commenced on behalf of those who acquired the securities of Refco, Inc. ("Refco" or the "Company") (NYSE: RFX) from August 11, 2005 through October 7, 2005 (the "Class Period").

A case is pending in the United States District Court for the Southern District of New York. The action charges that the Company and certain officers and/or directors violated federal securities laws by issuing a series of materially false and misleading statements to the market during the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the proposed class, you may ask the court no later than December 12, 2005 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. You may retain counsel of your choice, and to be a member of the proposed class you need not take any action at this time.

If you acquired shares of Refco during the Class Period and want to discuss your legal rights, you may e-mail or call Sarraf Gentile LLP who will, without obligation or cost to you, attempt to answer your questions. Sarraf Gentile LLP is active in major class action litigations pending across the nation. You may contact Sarraf Gentile LLP at 485 Seventh Avenue, Suite 1005, New York, New York, by email at joseph@sarrafgentile.com or by calling 212/868-3610.

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