Citigroup Shakes Ex-Salomon Head's Theft Loss Suit

Law360, Los Angeles (February 19, 2014, 6:41 PM EST) -- Citigroup Inc. can't be forced to cover $3 million in losses suffered by the son of one of the founders of Salomon Brothers whose Citi-hired secretary stole his money, a New York state judge ruled Tuesday.

New York Supreme Court Judge Eileen Bransten dismissed William R. Salomon's suit against the bank that now owns a portion of his father's old company, finding that the contract between the two didn't include a provision, implied or otherwise, to guarantee good behavior on the part of the secretary who...
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