Citigroup Balks At $6M In Fees For Nixed Exec Pay Suit

Law360, Los Angeles (February 27, 2013, 12:21 AM EST) -- Citigroup Inc. executives demanded Tuesday that a New York federal court reject a $6 million fee request from plaintiffs' attorneys in a dismissed shareholder derivative lawsuit, arguing that the litigation had no connection to the subsequent departure of bank executives and forfeiture of some of their pay.

In the motion, the bank officials denounced the lawyers for having “audaciously proclaimed victory” by claiming that the shareholder suit — which had been dismissed — caused Citibank CEO Vikram Pandit and other officials to resign and caused Citibank's...
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