Citigroup Inc. said Friday that it will pay $2 billion to settle a class action suit over its role in the sale of Enron Corp. stock and bonds before the energy company collapse that cost investors billions of dollars. Under the settlement -- the largest to date in the case -- Citigroup said it will distribute the payment to investors who bought publicly traded equity and debt securities issued by Enron and its related units between Sept. 9, 1997, and Dec. 2, 2001.
June 13, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Citigroup Inc., the nation’s biggest financial institution, on Friday said it will pay $2 billion to settle a class action lawsuit over its role in the sale of Enron Corp. stock and bonds before the energy company’s collapse that cost investors billions of dollars.
Under the settlement, Citigroup said it will distribute the payment to investors who bought publicly traded equity and debt securities issued by Enron and its related units between Sept. 9, 1997, and Dec. 2, 2001.
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