Judge Unites Investor Suits Over Citigroup CDOs

Law360, New York (November 23, 2011, 8:01 PM EST) -- A New York federal judge on Wednesday consolidated six securities investor class actions against Citigroup Inc. over the company's use of collateralized debt obligations and its plummeting stock following the 2008 financial crisis.

U.S. District Judge Sidney H. Stein said that the complaints in six suits were prepared by the same counsel, Grant & Eisenhofer PA, who used near-identical complaints for the actions.

“Given this extensive overlap, consolidation will easily be achieved, will greatly simplify administration of these actions, and will eliminate redundancy,” Judge Stein said....
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