Citi Shareholders Can Push $800M Suit Directly: Del. Court

Law360, New York (May 24, 2016, 4:07 PM EDT) -- Delaware's high court ruled Tuesday that investment trusts controlled by insurance executive Arthur L. Williams and his wife Angela properly sued Citigroup Inc. directly, and did not have to proceed derivatively, on claims they lost $800 million when the bank duped them into holding shares that plunged during the financial crisis.

The Delaware Supreme Court ruling clears away one lingering question in the high-dollar 2010 lawsuit, which is on appeal after U.S. District Judge Sidney H. Stein threw it out in October 2013. On appeal the...
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