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Wednesday, April 3, 2013
Federal judge refuses to approve Citigroup $590 million settlement
[JURIST] A judge for the US District Court for the Southern District of New York [official website] on Monday refused to approve Citigroup Inc.'s [corporate website] proposed $590 million settlement of a shareholder lawsuit, questioning the reasonableness of some details of the agreement. Judge Sidney Stein requested [IBTimes report] that Citigroup and its shareholders, the bank's opponents in this case, revisit the elements of the settlement, raising concerns over the reasonableness of legal fees and expenses, as well as the...
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