Citi Shakes Real Estate Mogul Solow's Fraud Suit

Law360, New York (November 23, 2011, 2:44 PM EST) -- A New York federal judge on Tuesday dismissed real estate mogul Sheldon H. Solow's complaint against Citigroup Inc. and its CEO Vikram Pandit, saying Solow failed to show that the bank intentionally concealed its deteriorating financial health from investors at the beginning of the economic crisis.

U.S. District Judge Robert W. Sweet found that while Solow did successfully show that Citigroup had been reckless, he failed to successfully plead his claims for fraud regarding statements the bank made about its capital after its stock price dropped...
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