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Bloomberg
Citigroup Inc., the third-largest U.S. bank by assets, lost an arbitration ruling that will force it to pay almost $12 million in damages in a case against actor Larry Hagman. A Financial Industry Regulatory Authority arbitration board ruled that Citigroup must pay $1.1 million in compensatory damages and must donate $10 million of punitive damages to […]
Financial Times
Citigroup was ordered to pay more than $11m to resolve allegations that it mishandled the accounts of Larry Hagman, the actor best known for his portrayal of the conniving Texas oil baron JR Ewing in the television soap opera Dallas. Arbitrators from the Financial Industry Regulatory Authority found Citi liable in the case and directed the bank […]
Reuters
Larry Hagman, the actor who played the villainous J.R. Ewing in the 1980s TV show “Dallas,” has won his case alleging that he was victimized by Citigroup Inc., with the bank ordered to pay more than $11 million in damages. The total award includes $10 million in punitive damages that Citi must pay to charities […]
Dow Jones
Raymond James & Associates, Inc. and one of its brokers must buy back $925,000 in auction-rate securities from a Texas-based couple, a securities arbitration panel has ruled. Rex and Sherese Glendenning, of the Celina area in Texas, originally sought $1.4 million in the case they filed in February 2009, against Raymond James & Associates, a […]
Bloomberg
Citigroup Inc. was ordered by brokerage-industry arbitrators to pay more than $1 million to three investors in its municipal-bond funds. The clients had accused the New York-based bank’s global markets unit of breaching fiduciary duty and other misconduct tied to their investments in funds known as MAT Five and MAT Three, according to an Aug. […]