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Megabank Citigroup Settles Investors' Case for $730,000,000.00

The March 19, 2013 edition of the Wall Street Journal published an article about Citigroup, Inc.'s settlement for $730 million of a lawsuit filed against them by investors.  The Wall Street Journal reported that Citigroup had raised more than $71 billion from offerings which the Plaintiff investors alleged were sold to them through misrepresentations by Citigroup including failure to fully disclose its possible exposure to losses on securities backed by home loans, misrepresentations of Citigroup's loss reserves, and overstatements of the credit value of some of its assets. The settlement amount is approximately 1% of the amount raised from the Citigroup offerings.  Forbes.com reports that Citigroup Inc.'s CEO Michael Corbat's recent annual total compensation was in excess of $8 million.

4 Comments to Megabank Citigroup Settles Investors' Case for $730,000,000.00:

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home loans on Wednesday, May 08, 2013 1:25 AM
Oh man! Massive compensation already have been made!But the question is that can any one say that the reason of this huge compensation? If anyone have then just explain and awfully i will get this reason as early as possible. Thanks
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