Judge Mostly Lets Stand Bondholders' Citigroup Claims

Law360, New York (July 13, 2010, 1:25 PM EDT) -- Citigroup Inc. must continue to fight a massive class action accusing it of concealing its stake in tens of billions of dollars in collateralized debt obligations amid the subprime mortgage meltdown, with a federal judge keeping in place most of the claims brought by a group of bondholders.

In an order Monday, Judge Sidney H. Stein of the U.S. District Court for the Southern District of New York said the plaintiffs had standing to pursue claims that Citigroup did not reveal the exposure in offering materials...
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