Norges Bank Sues Citigroup Over $835M In Losses

Law360, New York (September 24, 2010, 3:56 PM EDT) -- Norway's central bank has slapped Citigroup Inc. and 20 individuals — including Citigroup CEO Vikram Pandit and Chairman Richard Parsons — with a lawsuit claiming it suffered more than $835 million in investment losses because of untrue and incomplete public disclosures from Citigroup.

Norges Bank's complaint, filed in the U.S. District Court for the Southern District of New York on Sept. 17, said it was suing to recover losses incurred as a result of purchases of Citigroup securities between January 19, 2007, and January 15, 2009....
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