Class-action lawsuit against Citigroup can proceed, judge says

11/11/2010 | USA Today

U.S. District Court Judge Sidney H. Stein has ruled Citigroup shareholders have "sufficient" evidence to proceed with a proposed class-action lawsuit alleging securities fraud by Citigroup, several of its executives and one board member. The suit alleges that Citigroup misled shareholders about its exposure to risk from collateralized debt obligations.

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