Citigroup Reaches Tentative Deal In Subprime Suit

Law360, New York (December 13, 2011, 8:06 PM EST) -- The parties in a putative class action accusing a Citigroup Inc. unit of making false statements when it issued mortgage-backed securities have reached a settlement in principle, an attorney for the plaintiff said last week.

“In light of this agreement, the parties request that the court stay discovery, all due dates, and other issues in this action as of today,” Thomas E. Egler of Robbins Geller Rudman & Dowd LLP said Dec. 6 in a letter to the court.

According to the letter, the parties plan...
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