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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 Comments

  • Maxine P Mayo December 29, 2012

    I was given 16 sghares of Citi Bank stock while employed at a citi bank call center. This was in 2003 through 2005. The stock was taken back and I was told it was sold. There’s one share left and I’m not sure what will come regarding it. And lastly, I purchased five shares of Citi Bank Common stock between 2005 and 2007. This stock was also sold without my request or input and I was sent a $23 check as payment. None of these occurrances were with my approval. Please tell me if there is anything I can do to address these concerns. Thank You.

  • B Powers January 9, 2013

    I had 9600 shares of Citigroup stock in my IRA during this period. I still have the stock in my IRA. Would I be considered elgible to file a claim. Thank you.

  • Judith Marchant January 14, 2013

    How do I find out how many shares I had at that time

  • Maria paoletta January 18, 2013

    I use to work for Citigroup at that time and had stock but can’t find any documents please need advice who to contact sincerely Maria paoletta

  • Sylvia Y. Lam January 22, 2013

    Do I have shares purchased between 2-26-2007 and April 18, 2008? I have shares but don’t remember the dates.

  • Charles Katopes January 28, 2013

    I had a flood in my house and lost all pertinent stock holing info . Could you let me know how much stock I had and if I will be included in the settlement ? Thank you !

    Charles Katopes

  • harols galusha January 30, 2013

    where do i send my class action settlemet raport?

  • Harold Edward Boyle February 1, 2013

    How do I retrieve copies of stock purchases and/or transfers executed by my wife (now deceased) between February 26, 2007 and April 18, 2008?

  • Richard Pribil February 24, 2013

    I bought stock between 2-26-2007 and April 18, 2008.The share were thru my Ira and Scotttrade. I did not get the paperwork to file. Is it too late to file a claim? What do I need to do? I appreciate any help you can give me. Thank you.

  • Renee Gross February 25, 2013

    I need another copy of Proof of Claim to submit by the extended deadline of March 8, 2013.
    Pleasse send form to: 26 N. Wahanna Rd., #2, Seaside OR 97138

  • DONNA K. TURNER March 1, 2013

    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?

  • DONNA K. TURNER March 1, 2013

    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?

  • Valmere Frager March 4, 2013

    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

  • Susan Cooper March 6, 2013

    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

  • Abdul R. Kiwan March 23, 2013

    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

  • JONATHAN April 2, 2013

    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..

  • John Hollinger July 12, 2013

    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?

  • david kyte October 24, 2013

    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

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