Court Bounces Slew Of Claims Against Smith Barney

Law360, New York (July 31, 2006, 12:00 AM EDT) -- In a boost for Citigroup Inc., a federal court has tossed the majority of class action claims against the investment giant’s Salomon Smith Barney unit as the aftershocks of the 2003 mutual fund scandal continue to reverberate.

“Defendants' motion is granted, with a limited leave to replead on one claim,” ruled the U.S. District Court for the Southern District of New York on Wednesday, dismissing nearly all of the plaintiffs’ 13 claims for relief.

The group, comprising one institutional investor, the Masons and 22 individual investors...
To view the full article, register now.