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NYC judge rejects $285M SEC-Citigroup agreement

A federal judge on Monday struck down a $285 million settlement that Citigroup reached with the Securities and Exchange Commission, saying he couldn't tell whether the deal was fair and criticizing regulators for shielding the public from the details of what the firm did wrong.

 

Citigroup agrees to pay $285M to investors for negligence, SEC says

Federal regulators charged a Citigroup unit with negligence Wednesday, saying it misled investors about an investment product it used to bet against them as the housing market deteriorated. Citigroup agreed to pay a settlement of $285 million, which will be distributed to investors, the Securities and Exchange Commission said.

 

Citi to Register More Shares

Citigroup filed with the SEC to register about 1.6 billion more common shares as part of its move to convert preferred stock to common shares.

 

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