Law360, Los Angeles (May 17, 2012, 9:25 PM ET) -- The Second Circuit agreed Thursday to hear Citigroup Inc.’s appeal of a decision permitting four securities investor lawsuits over the company’s use of collateralized debt obligations to proceed separately from prior class actions, taking up a lower-court split on time limits in the Securities Act.
The appeals court granted Citigroup’s petition for an interlocutory appeal of a Sept. 30, 2011, order by U.S. District Judge Sidney H. Stein that denied the bank’s motion to dismiss certain claims under the Securities Act in four similar investor lawsuits,...
2nd Circ. Lets Citigroup Appeal Time Limits In CDO Suits
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