Citigroup, Investors Reach Accord In Subprime Loan Suit

Law360, New York (May 31, 2013, 6:26 PM EDT) -- Citigroup Inc. has settled a consolidated lawsuit brought by institutional investors alleging it misled the markets about its exposure to subprime loans ahead of the financial crisis, a lawyer for the plaintiffs said Friday.

U.S. District Judge Sidney H. Stein signed off on a request to drop the suit, which was brought by a number of institutional investors. Stuart M. Grant of Grant & Eisenhofer PA, a lawyer for the plaintiffs, said Citigroup agreed to settle.

“The amount is confidential,” Grant said. “Plaintiffs did very well.”...
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