The Citigroup Securities Class Action Lawsuit claims that Citigroup Inc. violated the Federal Securities Exchange Act of 1934. Class members include anyone who between the dates of February 26, 2007 and April 18, 2008 purchased Citigroup Inc. common stock. All eligible class members should receive a notice by mail. The lawsuit specifically states that sections 10(b) and 20(a) of the Securities Exchange Act of 1934 were violated. Lead Plaintiffs in the lawsuit include Jonathan Butler, M. David Diamond, David K. Whitcomb and Henrietta C. Whitcomb. Defendants include Citigroup Inc., Charles Prince, Gary Crittenden, Robert Druskin, Thomas Maheras, Michael Klein, David Bushnell and Robert Rubin. CitiGroupSecuritiesSettlement.com should eventually include the Lawsuit Notice, Claim Form and Summary Notice. A settlement fairness hearing will be held at the Daniel Patrick Moynihan United States Courthouse on January 15, 2013 at 10:00 a.m.. The courthouse is located at 500 Pearl Street, Courtroom 23A, New York, NY 10007-1312. A $590 million cash settlement has been agreed upon and will be pending approval at the fairness hearing. Please note that class members are not obligated to attend the fairness hearing.
The only way to receive a settlement payment is to file a claim form. The claim form has not been released as of yet. Please check back for further updates and information as the Citigroup Securities Class Action Settlement moves forward. Exclusion and Objection deadlines have not been set but are expected to have dates in the year 2013. Questions or concerns can be mailed to: In re Citigroup Inc. Securities Litigation c/o GCG, Inc., P.O. Box 9899, Dublin, Ohio 43017-5799 or by phone at (877) 600-6533 or by email Questions@citigroupsecuritiessettlement.com. Please do not contact Citigroup Inc..