Tuesday, March 19, 2013

Citi settles with bondholders

Citi will pay 730 million U.S. dollars to settle a class action suit by bondholders stemming from the financial crisis. The bondholders claimed that Citi misled them by misrepresenting its exposure to mortgage-backed assets as well as understating losses on loans. Citigroup denies the allegation but is settling to put the lawsuit behind it.

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