Citigroup Settles 26 WorldCom Securities Lawsuits

Law360, New York (November 6, 2006, 12:00 AM EST) -- Citigroup has settled 26 lawsuits brought by individuals who had opted out of the WorldCom securities class action settlement, the company said in its latest filing on Friday with the Securities and Exchange Commission.

The suits were settled for an undisclosed amount in Circuit Court in Palm Beach County, Fla. nearly two months ago, on Sept. 11.

Citigroup said it had funds to settle the litigation in existing reserves and would not have to set aside additional funds.

The case stems from WorldCom securities litigation, in...
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