A US law firm has filed a class action suit against Refco, the futures broker which went public just two months ago, but whose shares halved in two days over an accounting scandal. The Securities and Exchange Commission, the US regulator has launched an investigation.

Lerach Coughlin Stoia Geller Rudman & Robbins, a San Diego-based law firm, has filed a class action lawsuit claiming that Refco and certain of its officers and directors violated the Securities Act and the Exchange Act.