Skip to main content

Newsroom

March 19, 2012

SEC-Citigroup Trial Delayed as Appeals Court Reviews Accord

“The U.S. Securities and Exchange Commission and Citigroup Inc. (C) won a delay in the trial of a lawsuit the agency brought against the bank while an appeals court considers a judge’s refusal to approve their $285 million settlement.”

“’The SEC and Citigroup have made a strong showing of likelihood of success in setting aside the district court’s rejection of their settlement,’” the U.S. Court of Appeal in Manhattan wrote yesterday.”

“’We continue to believe Judge Rakoff got it right in rejecting this settlement and are confident that the circuit court, when it hears the case on the merits, will conclude that the SEC and settling parties must present significantly more information to evaluate a proposed settlement,’ Dennis Kelleher, chief executive officer of Washington-based Better Markets, which seeks to improve financial-market transparency, said in an e-mail.”

***

Read full Bloomberg article here.

 
In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
[email protected] or 202-618-6433.

Contact Us

For media inquiries, please contact [email protected] or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact [email protected] or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today