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Claims Added To Subprime Negligence Suit V. Citi

Law360 (April 6, 2009, 12:00 AM EDT) -- Two pension funds representing a purported class of investors have expanded their multibillion-dollar negligence claims against Citigroup Mortgage Loan Trust Inc. and related defendants with an amended complaint that alleges violations under three sections of the Securities Act of 1933.

The new complaint, filed Monday in the U.S. District Court for the Eastern District of New York, accuses Citigroup Mortgage of strict liability and negligence in connection with the sale of mortgage pass-through certificates that were backed by subprime mortgages.

It adds claims under section 12(2)...
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