Citi Urges Judge To Approve $75M Deal With SEC

Law360, New York (September 13, 2010, 7:45 PM EDT) -- Citigroup Inc. told a judge Monday that she should approve the bank's $75 million settlement with the U.S. Securities and Exchange Commission over allegations that the bank failed to fully disclose the extent of its exposure to subprime mortgages, saying the deal is “fair, adequate and reasonable.”

Saying she wanted more information, Judge Ellen Segal Huvelle of the U.S. District Court for the District of Columbia rejected the settlement at an August hearing, and Citi filed a memorandum laying out the reasons it thinks the deal...
To view the full article, register now.