Goldman Sachs, Credit Suisse First Boston, Banc of America Securities, Merrill Lynch, Deutsche Bank Securities and JP Morgan are among those named today as defendants in a shareholder class action against scandal-hit US futures broker Refco and some of its advisers. The banks managed Refco's flotation two months ago.

US law firm Schiffrin & Barroway has issued a class action demanding a trial by jury to force the company, members of its board of directors, its auditor, the banks that managed its flotation and a hedge fund manager to compensate shareholders for losses.