Citigroup Gets OK For $730M Bondholder Settlement

Law360, New York (August 20, 2013, 1:48 PM EDT) -- A New York federal judge on Tuesday approved a settlement that will have Citigroup Inc. pay $730 million to an investor class that alleged the bank misled purchasers about its exposure to collateralized debt obligations backed by subprime assets.

The settlement is one of the 15 largest recoveries in a securities class action. It is the second-largest recovery in a securities class action brought on behalf of purchasers of debt securities and one of the three largest recoveries ever in a case that does not involve...
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