2nd Circ. Sends Investor-Citigroup Spat To Ga. Court

Law360, New York (June 3, 2009, 12:00 AM EDT) -- A federal appeals court has ruled that an investor who claimed Citigroup Global Markets Inc. and a top financial adviser fraudulently persuaded him to hold on to his 2 million shares of WorldCom Inc. did not make a case for fraud under Georgia's securities laws, sending his remaining claims to the state's high court.

The U.S. Court of Appeals for the Second Circuit on Wednesday upheld a district court decision that William K. Holmes had failed to state a claim under Georgia's “blue sky” laws, denied...
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