A Manhattan Commercial Division judge approved a $1.125 billion settlement between Citigroup and investors who lost $15 billion by buying mortgage-backed bonds issued by Citigroup prior to the 2008 financial crisis.
January 06, 2016 at 04:05 AM
1 minute read
A Manhattan Commercial Division judge approved a $1.125 billion settlement between Citigroup and investors who lost $15 billion by buying mortgage-backed bonds issued by Citigroup prior to the 2008 financial crisis.
Justice Marcy Friedman declared the settlement, negotiated by 18 institutional investors who held 30 percent of the bond investments, to be “reasonable.”
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