Citigroup Aims To Ax Brokers' Suit Over Bonus Loans

Law360, New York (January 12, 2010, 2:44 PM EST) -- Citigroup Global Markets Inc. has asked a judge to throw out a suit brought by terminated securities brokers who claimed they were unfairly required to immediately pay back signing bonus loans under their employment contracts, calling those allegations “baseless.”

The financial services giant filed a motion to dismiss the putative class action on Monday in the U.S. District Court for the Southern District of New York, citing a number of potential reasons for dismissal, including arbitration provisions, the doctrine of res judicata and limitations under the...
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