The MF Global roller-coaster investigation added a new twist, thanks to the trustee who's overseeing the liquidation of the company.  MF Global trustee James Giddens is considering whether to sue the executives and directors.  And the charges would be for their role in the firm's collapse and misuse of customer money. With upwards of $1.6 billion of customer money still unaccounted for, and trustee Giddens tasked with returning money to MF Global customers, the suit might seem a natural.  If he files a lawsuit against top MF Global employees, the case would open a new avenue in his bid to recover money for customers.  Until now, the trustee has only discussed potential lawsuits against banks and clearinghouses that received the customer money during MF Global’s final days. Lawyers for the trustee discussed suing MF Global employees during a bankruptcy court hearing in New York on Thursday.  The trustee’s office later issued a statement clarifying that the civil claims would center on accusations that MF Global employees breached their fiduciary duties to the firm and its customers.  A lawsuit, the statement said, would also accuse certain employees of violating sacrosanct rules protecting customer money.

"The trustee believes that there are claims he may assert against certain responsible individuals," as per a statement from Mr. Giddens.

Jon Corzine and other top executives, including the general counsel would be the central targets of such a suit, though the trustee also is considering filing suit against the firm’s directors. Not the First Suit Filed. It's not the first suit that would be filed against Jon Corzine and other senior officials.  He, like the others, faces a litany of civil lawsuits from company investors and customers.  Mr. Giddens is in talks with with lawyers for the plaintiffs, with the aim of combining or condensing the claims. The civil matters are separate from a wide-ranging federal investigation into actions at the firm, and it should be reiterated that federal officials have not accused anyone at MF Global, including Mr. Corzine, of wrongdoing. In any event, Mr. Giddens has not finalized his plans, so it's unclear whether he actually will pursue litigation.  A spokesperson for Giddens said:  "We are the advocate for customers, and we’re required by statute to use all means possible to recover assets for customers, and that’s what this is about." For further details, go to:  [Dealbook, 4/12/12].