GCG

On July 29, 2010, the SEC filed a complaint ("Complaint") alleging that the Defendant violated Section 17(a)(2) of the Securities Act of 1933 ("Securities Act"), Section 13(a) of the Securities Exchange Act of 1934 ("Exchange Act"), and Exchange Act Rules 12b-20 and 13a-11. The Complaint alleges that from July 2007 through October 2007, Citigroup made a series of materially misleading statements concerning the extent of the company's exposure to sub-prime mortgage-related assets in earnings calls and public filings 1. The Defendant entered into consent agreements and on October 19, 2010 the Court entered a Final Judgment ordering the Defendant to pay disgorgement of $1.00, and a civil penalty in the amount of $75,000,000 2. Pursuant to the Final Judgment, on October 22, 2010, defendant Citigroup Inc. paid a total of $75,000,001 to the Clerk of the Court (the "Fair Fund") under the case name designation "SEC v. Citigroup Inc., Case No. 10-cv-01277 ESH." The Fair Fund was deposited into..

Also known as: Citigroup Fair Fund, Citigroup Inc.

Primary location: Dublin United States