More Plaintiffs Dismissed From Citigroup MDL

Law360, New York (January 7, 2010, 5:56 PM EST) -- Multidistrict litigation over the forfeiture provision in one of Citigroup Inc.'s employee stock plans appears to be winding down, with a federal judge dismissing class action allegations brought by plaintiffs in Colorado and Louisiana.

Judge Nancy Gertner of the U.S. District Court for the District of Massachusetts granted Citigroup's motion for summary judgment on Wednesday, pointing out that the employees voluntarily participated in the plan — known as the Capital Accumulation Plan — and that they were specifically told that unvested restricted stock would not be...
To view the full article, register now.