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Investors Accuse Citi Execs Of "Suspicious" Trades Of Over $150 Million


First Posted: 12- 3-08 05:20 PM   |   Updated: 01- 3-09 05:12 AM

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Citibank

Reuters:

An investor lawsuit contends that Citigroup Inc insiders, including senior counselor and former U.S. Treasury Secretary Robert Rubin, sold more than $150 million of their own shares at inflated prices while concealing the bank's true financial health.

The allegations were made in a nearly 500-page court complaint filed by shareholders who are suing the bank for fraud related to its disclosures over mortgage-linked securities. The complaint was filed late Monday in U.S. District Court in Manhattan.

Read the whole story: Reuters

Filed by Nick Sabloff  |  Report Corrections