Citigroup, Ex-Employees Battle Over CAP Plans

Law360, New York (July 31, 2007, 12:00 AM EDT) -- Citigroup Inc. and its former employees went head-to-head on Monday in front of a district court judge over the company's controversial Capital Accumulation Plan, as each side battled to show why its motion for summary judgment should be granted over the others.'

Citigroup's former employees are currently suing the company over its CAP plan, alleging that the company had deprived them of their investments in various versions of the plan by scheming to forfeit its employees' contributions.

The Capital Accumulation Plan allows certain Citigroup employees to...
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