Citi, Paul Weiss Take Sting Out Of SEC's $180M Settlement

Law360, New York (August 17, 2015, 8:26 PM EDT) -- After the U.S. Securities and Exchange Commission announced a $180 million enforcement action Monday against two Citigroup units accused of misleading investors ahead of the financial crisis, legal experts said the settlement has some clear winners: Citigroup and its attorneys at Paul Weiss Rifkind Wharton & Garrison LLP.

Two Citigroup affiliates agreed Monday to pay nearly $180 million to settle SEC claims that they defrauded investors in two hedge funds that collapsed during the financial crisis by claiming they were safe and appropriate for traditional bond investors. (Credit: AP) Citi agreed to pay the amount to end a long-running probe into...

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