Ex-Citi Brokers Face Tough 2nd Circ. In Bonus Action

Law360, New York (May 17, 2011, 3:18 PM EDT) -- A lawyer for former Citigroup Global Markets Inc. brokers faced a prickly Second Circuit bench Tuesday as he tried to revive a proposed class action over a contract requiring the brokers to immediately pay back signing bonuses upon termination.

In a Manhattan courtroom, plaintiffs' attorney Mark Thierman started to explain reasons why he believed the contract requirement amounted to “indentured servitude,” but was cut off when Judge Reena Raggi repeatedly asked him to identify where he had stated that argument in briefs.

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