Investor Threatened With Sanctions In $34M Citigroup Suit

Law360, New York (June 13, 2013, 7:30 PM EDT) -- A federal judge said Thursday that he is considering sanctions against the Brazilian investor behind a $34 million suit against Citigroup Inc. after the plaintiff failed to turn over document discovery.

U.S. District Judge Jesse M. Furman said he was “disturbed” that investor Bernardo Valentini had failed to turn over documents Citigroup might need to fight its case against him.

Valentini claims in his lawsuit that Citigroup sold him risky reverse convertible notes while hiding the significant risk that he would lose his investment. He wants...
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