Associated Press, The Washington Post
Submitted by: Editor
Citigroup lawsuit results in $730M settlement
Of course, Citigroup denied all allegations of impropriety and made up a load of BS about paying off investors simply to offset the costs of a drawn out court battle. The crux of the case revolved around allegations that the bank willfully lied to individuals who bought stock based on the reported value of [homeowners] loans owned by the bank.
It's also worth noting that this settlement only involves investors, not homeowners who lost their homes due to dirty tactics.