2nd Circ. Lets Citigroup Appeal Time Limits In CDO Suits

Law360, Los Angeles (May 17, 2012, 9:25 PM EDT) -- The Second Circuit agreed Thursday to hear Citigroup Inc.’s appeal of a decision permitting four securities investor lawsuits over the company’s use of collateralized debt obligations to proceed separately from prior class actions, taking up a lower-court split on time limits in the Securities Act.

The appeals court granted Citigroup’s petition for an interlocutory appeal of a Sept. 30, 2011, order by U.S. District Judge Sidney H. Stein that denied the bank’s motion to dismiss certain claims under the Securities Act in four similar investor lawsuits,...
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