Thursday, March 21, 2013
Associated Press, The Washington Post
Submitted by: Editor

Citigroup lawsuit results in $730M settlement

Citigroup agrees to pay investors a $730 million settlement resulting from a class-action lawsuit alleging the bank purposefully mislead them when they purchased stock.

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. 

Posted by Editor on 03/21/13 at 10:08 AM •  (0) Comments

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