Citigroup Cited in Latest Suit Alleging Improper Compensation of Brokers

Fine, Jacob
June 2004
Bond Buyer;6/7/2004, Vol. 348 Issue 31899, p7
Trade Publication
Reports that Milberg Weiss Bershad & Schulmann LLP has filed a complaint seeking class action status and accusing Citigroup Inc. of failing to properly disclose that it was providing brokers with incentives to sell in-house mutual funds. Pervasiveness of the practice of brokers receiving compensation for selling in-house funds; Involvement of mutual funds which carry the brand names of either Smith Barney or Salomon Brothers.


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