ARS Investor Fights To Keep Citigroup In Court

Law360, New York (November 11, 2009, 1:23 PM EST) -- Braintree Laboratories Inc. has appealed a federal court’s decision to order arbitration in its lawsuit accusing Citigroup Inc.’s brokerage division of pushing the specialty pharmaceutical company to buy more than $41 million of virtually worthless auction rate securities.

On Tuesday the plaintiff turned to the U.S. Court of Appeals for the First Circuit, seeking to overturn the arbitration order and win a preliminary injunction requiring Citigroup to fork over the $41.5 million Braintree spent, plus interest, or pledge property to secure that amount.

Judge Nathaniel M....
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