Citigroup, Execs Targeted In $9B Euro Note Class Action

Law360, New York (September 4, 2012, 3:51 PM EDT) -- Citigroup Inc. and four current and former top executives were hit with a proposed class action brought by a pension fund Thursday alleging the financial services giant lied about its exposure to subprime mortgage assets and caused more than $9 billion in losses for holders of its medium-term Euro notes.

According to Rentokil-Initial Pension Scheme’s complaint, filed in New York federal court, Citigroup and former CEOs Sanford Weill and Charles Prince, former Chairman Robert Rubin and current CEO Vikram Pandit falsely and misleadingly failed to disclose...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Rentokil-Initial Pension Scheme v. Citigroup Inc. et al


Case Number

1:12-cv-06653

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Sidney H. Stein

Date Filed

August 30, 2012

Law Firms

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.