Citigroup Wants To Merge ERISA, Securities Actions

Law360, New York (December 14, 2007, 12:00 AM EST) -- Citigroup Inc. has asked a New York federal court to consolidate 16 cases that collectively accuse the financial conglomerate of ERISA and securities law violations for alleged losses incurred from Citigroup's mortgage securitization business.

Citigroup filed a response on Thursday in the U.S. District Court for the Southern District of New York to consolidation motions by four plaintiffs that sought to combine 11 purported class actions claiming Employment Retirement Income Security Act violations.

“Because all of these cases raise similar allegations under ERISA against Citigroup, the...
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