New York Times
Two individual investors just scored a remarkable win against Citigroup. A few weeks ago, the pair was awarded a total of $54.1 million in a securities arbitration case against the Smith Barney unit of the company – the largest amount ever awarded to individuals in such a case, according to the Financial Industry Regulatory Authority. […]
Boston Globe
Citigroup Inc., the third-biggest US bank, was ordered to pay more than $51 million to a group of investors in its MAT and ASTA municipal bond hedge funds, which regulators began examining more than two years ago. The ruling by arbitrators at the Financial Industry Regulatory Authority, which oversees US brokerages, includes $17 million in […]
The Washington Post
Securities regulators have ordered Citigroup Inc. to pay $54 million to two investors who suffered hefty losses in several municipal bond hedge funds between 2002 and 2007. An arbitration panel of the Financial Industry Regulatory Authority in Denver awarded the investors $34.1 million in compensatory damages and $17 million in punitive damages in an order […]
Associated Press
Securities regulators have ordered Citigroup Inc. to pay $54 million to two investors who suffered hefty losses in several municipal bond hedge funds between 2002 and 2007. An arbitration panel of the Financial Industry Regulatory Authority in Denver awarded the investors $34.1 million in compensatory damages and $17 million in punitive damages in an order […]
Wall Street Journal
A securities arbitration panel has ordered a unit of Citigroup Inc. to pay a group of investors about $54 million for losses they incurred in a municipal-bond arbitrage fund that lost about 80% from mid 2007 through March 2008. Three investors, including Brush Creek Capital, filed the claim in 2009, seeking damages related to MAT […]