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Citigroup Securities Class Action Settlement

By Kimberly Mirando

 

CitigroupCitigroup, Inc. has reached a $590 million class action lawsuit settlement with shareholders to resolve allegations it committed securities fraud. If you purchased Citigroup common stock (NYSE: C) between February 26, 2007 and April 18, 2008, you may be covered by the Citigroup class action settlement.

The Citigroup securities settlement will resolve a class action lawsuit, titled In Re: Citigroup, Inc. Securities Litigation, that alleges Citigroup and certain officers and directors violated the federal Securities Exchange Act of 1934 by misrepresenting Citigroup’s exposure to collateralized debt obligations (“CDOs), as well as the value of those CDOs, during the Class Period.

Plaintiffs in the Citigroup securities class action lawsuit alleged Citigroup was aware of both the size of Citigroup’s CDO holdings and their impairment before either of these matters were disclosed to the public, and that public disclosure regarding Citigroup’s CDO exposures caused the price of Citigroup common stock to decline.

Citigroup denies any wrongdoing, but has agreed to establish a $590 million class action lawsuit settlement fund to pay out shareholders and resolve the litigation.

Class Members of the Citigroup securities class action settlement include anyone who purchased or otherwise acquired common stock of Citigroup, Inc. between February 26, 2007 and April 18, 2008, inclusive.

Class Members that submit a timely and valid Claim Form will receive approximately $0.19 per eligible share they purchased. However, this number is based on all Class Members filing a claim, which is highly unlikely. Therefore, the amount of money you could recover from the Citigroup stock settlement will likely be much more.

The only way to receive money from the Citigroup securities class action settlement is to submit a valid Claim Form no later than February 7, 2013.

Claim Forms and more information on your rights in the Citigroup Securities Fraud Class Action Lawsuit Settlement can be found at www.CitigroupSecuritiesSettlement.com.

Were you a victim of stock fraud, securities fraud or investment fraud? You may have a case to file class action lawsuit against the parties responsible. Visit the Securities Fraud, Stock Fraud Investment Class Action Lawsuit Investigation for details.

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Updated October 23rd, 2012

All securities fraud class action and lawsuit news updates are listed in the Stocks & Securities section of Top Class Actions

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18 thoughts onCitigroup Securities Class Action Settlement

  1. david kyte says:

    I don’t recall if I filed a Citigroup claim; how can I find out and if iIdidn’t is it still possible to file

  2. John Hollinger says:

    I don’t recall if I filed a Citigroup claim; how can I find out and if iIdidn’t is it still possible to file?

  3. JONATHAN says:

    I am a former Citigroup employed i purchased 109.2408 shares I did’nt rec’ a claim or paperwork to file the 800 # i call is a death end for will not let me talk with a administrator. Would like to e considered to file a claim. THANK YOU..

  4. Abdul R. Kiwan says:

    I purchsed 1000 shares of Citigroup on March 18, 2008. I have just became aware of the settlement of the class action law suit. Can I now submit my claim with the necessary proof of claim ? Please let me know.
    Abdul R. Kiwan

  5. Susan Cooper says:

    Where would I find this information? I am no longer employed with Citigroup and need to know who to contact to get trade date,number of shares, purchase or acquisition price per share & net purchase or acquisition price (less commissions & fee),basically everything I need to complete the form. Please advise

  6. Valmere Frager says:

    My husband John D. Frager was a 25 year employee of Citi. He had shares in my IRA our Pension and in our stock portfolio. I need help establishing dates he bought. I owned these shares from April 15th 207 the date of his death.We also had shares for our grandchildren. I need help filling these form out.I would be willing to pay . I believe that the shares were mostly held by Schwab by the time I sold. Thank you

  7. DONNA K. TURNER says:

    I AM A FORMER CITIFINANCIAL EMPLOYEE. THE ONLY DOCUMENTS I FIND SHOW RESTRICTED STOCK, IS THIS THE SAME AS COMMON STOCK? IF NOT, HOW DO I FIND OUT HOW MANY SHARES I HAD AT THAT TIME?

  8. DONNA K. TURNER says:

    I AM A FORMER CITIFINANCIAL EMPLOYEE. AND THE ONLY INFORMATION I HAVE SHOWS RESTRICTED STOCK. IS THAT THE SAME AS COMMON STOCK? IF NOT, IS THERE ANY WAY TO FIND OUT HOW MANY SHARES I HAD AT THAT TIME?

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.