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Investors who lost money on AT&T stock have alleged enough of a connection between their losses and conflicts of interest at Salomon Smith Barney to survive a motion to dismiss, a federal judge has ruled. The New York judge said the case against Citigroup and former star telecommunications industry analyst Jack Grubman could proceed because investors had pleaded "loss causation" by charging that Grubman was compromised by conflicts when he boosted his rating on the stock in 1999.
December 07, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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