NY Pols Ask Schneiderman Why He Skipped $2.4B Citi Suit

Law360, New York (March 16, 2016, 6:35 PM EDT) -- Eighteen New York assemblymembers asked Attorney General Eric Schneiderman on Tuesday to explain his decision not to get involved in a $2.4 billion suit brought under New York’s False Claims Act that accuses Citigroup of dodging $800 million in state taxes by illegally deducting losses it incurred during the financial crisis.

The state representatives, mostly Republicans, said Schneiderman’s decision not to throw his weight behind the suit — which could result in trebled damages for the state, or $2.4 billion — filed by Indiana University business economics professor Eric Rasmusen was puzzling given his championing of the FCA and his willingness to...

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