Citigroup Write-Down Suit Should've Survived, Atty Says

Law360, New York (September 10, 2013, 6:32 PM EDT) -- A New York state judge shouldn't have considered a letter refusing shareholders' demand that Citigroup Inc. investigate its fishy $8 billion to $11 billion subprime mortgage write-down when he dismissed their derivative lawsuit, the shareholders' attorney told a state appeals court panel Tuesday.

Richard D. Greenfield of Greenfield & Goodman LLC, who represents the shareholders, told a four-judge state appeals court panel that if now-retired Judge Bernard Fried had only considered the shareholders' complaint, as he was required to do on a motion to dismiss, he...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.