ARS Suits Against Citigroup Consolidated

Law360, New York (June 21, 2008, 12:00 AM EDT) -- A district court has consolidated five proposed class actions brought against Citigroup Inc. on behalf of purchasers of auction rate securities, despite arguments that consolidating all the claims, including those that do not fall under the Private Securities Litigation Reform Act, would delay recovery for the class members.

On Tuesday, Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York consolidated four cases that asserted violations of federal securities laws against Citigroup with one case that only asserted claims under...
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