Citigroup Investor Class Action Trimmed

Law360, New York (November 10, 2010, 5:33 PM EST) -- A federal judge has pared down a consolidated class action accusing Citigroup Inc. of making misleading statements about its exposure to subprime mortgages but will allow shareholders to pursue some claims over collateralized debt obligations.

Granting in part Citigroup's motion to dismiss the suit, Judge Sidney H. Stein of the U.S. District Court for the Southern District of New York on Tuesday ruled that the plaintiffs may only pursue their securities fraud claims over alleged misstatements and omissions occurring between February 2007 and April 2008 concerning...
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