Citi Aims To Kill Workers' Suit Over Subprime Losses

Law360, New York (November 24, 2009, 1:56 PM EST) -- Citigroup Inc. has asked a federal judge to dismiss a suit brought by plaintiffs who invested in the bank through an employee stock awards program and who claim that Citigroup hid its exposure to subprime mortgages before a precipitous drop in its stock.

On Monday, the bank filed a 54-page motion to dismiss claims that are part of the multidistrict securities litigation against the bank consolidated in the U.S. District Court for the Southern District of New York.

According to Citigroup, the consolidated suit it seeks...
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