Arab Today, arab today citigroup to pay 590 million to settle investor suit
Last Updated : GMT 16:11:13
Arab Today, arab today
Arab Today, arab today

Citigroup to pay $590 million to settle investor suit

Arab Today, arab today

Arab Today, arab today Citigroup to pay $590 million to settle investor suit

New York - AFP

Citigroup said Friday it had agreed to pay $590 million to settle a suit by investors who accused the bank of misleading them on its derivative losses in 2007-2008. Citigroup said it was agreeing to settle the lawsuit to avoid any more legal costs, but denied the charges that it had misled investors on its exposure to the market of collateralized debt obligations, which was collapsing at the time.

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