Ex-Citi Brokers Lose Bid To Save Bonus Contract Suit

Law360, New York (May 20, 2011, 8:29 PM EDT) -- The Second Circuit on Friday rejected a group of former Citigroup Global Markets Inc. brokers' efforts to revive a proposed class action over a contract requiring them to immediately pay back signing bonuses upon termination.

A three-judge panel issued a brief summary order saying the court supported findings that the plaintiffs failed to state a claim and were bound by arbitration proceedings.

"For substantially the reasons offered by the district court, we affirm the judgment as to all claims," the brief ruling said.

Attorney Mark Thierman...
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