Citi Employees Get Another Stab At Stock Losses Suit

Law360, New York (November 14, 2011, 7:39 PM EST) -- Just months after tossing a putative class action against Citigroup Inc., a federal judge on Monday revived the suit brought by participants in an employee stock awards program who claimed the bank had hidden its exposure to subprime mortgages before its stock tanked.

U.S. District Judge Sidney H. Stein had dismissed the suit with prejudice in June, but vacated his judgment and allowed the plaintiffs to submit an amended complaint alleging Citigroup misrepresented the quality and valuation of its collaterized debt obligations and structured investment vehicles,...
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