TITLE

Citigroup Settles Subprime Suit

AUTHOR(S)
Browdie, Brian
PUB. DATE
June 2013
SOURCE
American Banker;6/ 4/2013, Vol. 178 Issue 85, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports Citigroup bank's settlement of a lawsuit accusing the company of misleading institutional investors regarding its subprime loans exposure was approved by U.S. District Judge Sidney Stein in Manhattan, New York on May 31, 2013. The investors include International Fund Management of Luxembourg and DekaBank of Germany. Citigroup allegedly sold securities backed by subprime mortgages and did not disclose the risk to investors.
ACCESSION #
88006671

 

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