Tag Archive "citigroup"

Fed Judge OKs Suit Against Citigroup, Ex CEO Prince & Chair Rubin for Fraud Stemming from Bank’s (Alleged) Knowing Sale of “Defective” Sub-Prime Mortgage Securities and Non-Disclosure of Immense Risks to Citi’s Own Shareowners

November 22, 2010 -- As reported in our October 29 blog, numerous duped investors who allegedly bought worthless mortgage related securities from Citigroup, and Citigroup shareholders who were never told the bank had assumed potentially catastrophic risks by selling these sub-prime mortgage products that failed the bank’s own credit standards, have filed securities fraud lawsuits against Citi to recover their losses.