NY Judge Dismisses $2.4B Tax-Dodging Suit Against Citigroup

Law360, New York (May 18, 2017, 7:58 PM EDT) -- A New York state judge on Wednesday tossed out a $2.4 billion suit accusing Citigroup of dodging $800 million in state taxes by illegally deducting losses it incurred during the financial crisis, according to a source familiar with the matter.

New York Supreme Court Judge Charles Ramos, in the court’s commercial division, pronounced from the bench that he intended to grant Citigroup’s motion to dismiss the case but did not articulate reasons for doing so, the source said.

A transcript of the court’s proceedings has not...
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