Judge Rejects $75M SEC, Citigroup Deal

Law360, New York (August 16, 2010, 7:03 PM EDT) -- A judge has reportedly refused to sign off on the U.S. Securities and Exchange Commission's $75 million settlement with Citigroup Inc. over the bank's alleged failure to fully disclose the extent of its subprime mortgage-related asset exposure in 2007.

Judge Ellen Segal Huvelle of the U.S. District Court for the District of Columbia said at a hearing Monday she did not have sufficient information to approve the settlement and ordered both the regulator and Citigroup to file briefs in support of the deal, the Wall Street...
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