{"id":2969,"date":"2015-08-17T00:00:00","date_gmt":"2015-08-17T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/"},"modified":"2018-10-08T12:41:51","modified_gmt":"2018-10-08T16:41:51","slug":"class-action-suit-against-citigroup-results-in-13-5-million-settlement","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/","title":{"rendered":"Class Action Suit Against Citigroup Results in $13.5 Million Settlement"},"content":{"rendered":"<p><h2><a href=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Class-Action-Suit-Against-Citigroup-Results-in-13.5-Million-Settlement.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-1706\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Class-Action-Suit-Against-Citigroup-Results-in-13.5-Million-Settlement-1024x768.jpg\" alt=\"Class Action Suit Against Citigroup Results in $13.5 Million Settlement on silverlaw.com\" width=\"1024\" height=\"768\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Class-Action-Suit-Against-Citigroup-Results-in-13.5-Million-Settlement-1024x768.jpg 1024w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Class-Action-Suit-Against-Citigroup-Results-in-13.5-Million-Settlement-300x225.jpg 300w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a>Bank accused of misleading investors in proprietary alternative investments<\/h2>\n<\/p>\n<p>A settlement has been reached in a class action against Citigroup, Inc. resulting in a $13.5 million payout by the banking giant. According to <a href=\"http:\/\/www.law360.com\/articles\/689531\/citigroup-to-pay-13-5m-to-end-cso-hedge-fund-suit\"  target=\"_blank\">Law360<\/a>, papers filed August 10, 2015 indicate Citigroup allegedly misled investors by allowing them to buy into the bank\u2019s Corporate Special Opportunities fund without disclosing risky debt \u2013 debt that resulted in losses over $400 million.<\/p>\n<p>In the October 2012 complaint filed by plaintiffs David Beach and Christopher Kelly, Citigroup is accused of misleading investors about trades made in the debt of ProSeiben, a German media company. According to the suit, Citigroup was to govern the fund, but violated scaling and concentration restrictions on investments.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/\"  title=\"Continue Reading Class Action Suit Against Citigroup Results in $13.5 Million Settlement\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bank accused of misleading investors in proprietary alternative investments A settlement has been reached in a class action against Citigroup, Inc. resulting in a $13.5 million payout by the banking giant. According to Law360, papers filed August 10, 2015 indicate Citigroup allegedly misled investors by allowing them to buy into the bank\u2019s Corporate Special Opportunities [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[602],"tags":[496],"class_list":["post-2969","post","type-post","status-publish","format-standard","hentry","category-class-action","tag-class-action-suit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Class Action Suit Against Citigroup Results in $13.5 Million Settlement &#8212; Securities Arbitration Lawyers Blog &#8212; August 17, 2015<\/title>\n<meta name=\"description\" content=\"Read the full article article on Class Action Suit Against Citigroup Results in $13.5 Million Settlement. A class action against Citigroup on slverlaw.com\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Class Action Suit Against Citigroup Results in $13.5 Million Settlement &#8212; Securities Arbitration Lawyers Blog &#8212; August 17, 2015\" \/>\n<meta name=\"twitter:description\" content=\"Read the full article article on Class Action Suit Against Citigroup Results in $13.5 Million Settlement. 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A class action against Citigroup on slverlaw.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/","twitter_card":"summary_large_image","twitter_title":"Class Action Suit Against Citigroup Results in $13.5 Million Settlement &#8212; Securities Arbitration Lawyers Blog &#8212; August 17, 2015","twitter_description":"Read the full article article on Class Action Suit Against Citigroup Results in $13.5 Million Settlement. A class action against Citigroup on slverlaw.com","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Class-Action-Suit-Against-Citigroup-Results-in-13.5-Million-Settlement.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/","url":"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/","name":"Class Action Suit Against Citigroup Results in $13.5 Million Settlement &#8212; Securities Arbitration Lawyers Blog &#8212; August 17, 2015","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/class-action-suit-against-citigroup-results-in-13-5-million-settlement\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Class-Action-Suit-Against-Citigroup-Results-in-13.5-Million-Settlement-1024x768.jpg","datePublished":"2015-08-17T04:00:00+00:00","dateModified":"2018-10-08T16:41:51+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"Read the full article article on Class Action Suit Against Citigroup Results in $13.5 Million Settlement. 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