Citigroup Shareholders Lose Bid For $6M Attys' Fees

Law360, New York (August 20, 2013, 8:03 PM EDT) -- A New York federal judge crushed a $6 million fee request from plaintiffs’ attorneys Monday in a shareholder derivative lawsuit accusing Citigroup of issuing excessive compensation in 2011, saying the plaintiffs failed to prove that the suit caused Citibank executives to resign months later.

Attorneys for the plaintiffs had argued that the derivative action ultimately led CEO Vikram Pandit and Chief Operating Officer John Havens to resign without severance pay just days after the bank filed a motion to dismiss the suit in October, but U.S....
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