2nd Circ. Revives Fee Suit For Citigroup Investors

Law360, New York (February 17, 2010, 4:47 PM EST) -- A federal appeals court has revived a class action from investors accusing the Citigroup Inc. affiliates that managed their funds of pocketing fees, reversing a district court's dismissal of claims under the Securities Exchange Act.

The U.S. Court of Appeals for the Second Circuit rendered an opinion Tuesday overruling a decision from the U.S. District Court for the Southern District of New York that let Citigroup Asset Management off the hook despite failing to tell its investors that it was using fees to pad its own...
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