Citigroup, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Citigroup, Inc. Summary: The original complaint charges that Citigroup misled shareholders by falsely reporting financial statements that failed to consolidate the results and liabilities of certain highly-leveraged special investment vehicles, as required by Generally Accepted Accounting Principles or "GAAP." The mortgage-backed securities owned by these special investment vehicles (sold to them by Citigroup) have tumbled in value, forcing Citigroup to bail out the special investment vehicles, to the tune of billions of dollars in additional liability.

According to a press release dated August 20, 2008, a federal judge on Tuesday consolidated a group of class action lawsuits alleging that Citigroup Inc. made misleading and inaccurate statements about its exposure to subprime mortgages, resulting in millions of dollars in losses for investors. Judge Sidney Stein of U.S. District Court for the Southern District of New York named ATD Group, a collection of individual investors, the lead plaintiff in the case. The law firm Kirby McInerney LLP was named the lead attorney. Two state agencies, the Public Employees' Retirement Association of Colorado and the Tennessee Consolidated Retirement System, are among the other plaintiffs in the case. The Colorado and Tennessee state institutions had moved jointly to be named lead plaintiffs in the case.

On December 1, 2008, the lead plaintiffs filed Consolidated Class Action Complaint and again filed amended their complaint on February 20, 2009. The defendants filed a motion to dismiss on March 13, 2009.

On August 21, 2009, by order from the Multidistrict Litigation Panel, this case was transferred to the Southern District of New York for coordinated or consolidated pretrial proceedings with the actions pending in that district.

On November 09, 2010, an Opinion and Order was issued by the Court denying the defendants' motion to dismiss with respect to the Section 10(b) claims against Citigroup and the Section 10(b) and 20(a) claims against various defendants. The Order was granted with respect to other individual defendants.

INDUSTRY CLASSIFICATION:
SIC Code: 6111
Sector: Financial
Industry: Consumer Financial Services

COMPANY/ISSUER NAME:	Citigroup, Inc.
COMPANY/ISSUER TICKER:	C
COMPANY WEBSITE:	http://www.citigroup.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Tillie Saltzman, et al. v. Citigroup, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-09901
JUDGE NAME: Hon. Sidney H. Stein
DATE FILED: 11/08/2007	SOURCE: Notice of Filing
CLASS PERIOD START: 04/17/2006	CLASS PERIOD END: 11/05/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 58 South Service Road, Suite 200, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ Entwistle & Cappucci LLP 299 Park Avenue, 14th Floor, New York, NY, 10171 (voice) 212.894.7200, (fax) 212.894.7272, info@entwistle-law.com Gardy & Notis, LLP 440 Sylvan Avenue, Englewood Cliffs, NJ, 07632 (voice) 201-567-7377, (fax) 201-567-7337, info@gardylaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of the Federal Securities Laws - Demand for Jury Trial
Type: Complaint		Date on the document: 11/08/2007
Notice Of Motion Of David Garden For Consolidation, Appointment As Lead Plaintiff Pursuant To §21d(A)(3)(B) Of The Securities Exchange Act Of 1934 And Approval Of Selection Of Lead Counsel
Type: Motion		Date on the document: 1/7/2008
Order
Type: Order		Date on the document: 1/22/2008
Notice Of Motion Of The Ohio State Teachers Retirement System And The Attorney General Of The State Of Ohio To Disqualify Counsel
Type: Notice		Date on the document: 1/28/2008
The Global Pension Funds' Notice Of Motion And Motion To Strike The January 28, 2008 Delcaration Of Marc Dann And William J. Neville
Type: Notice		Date on the document: 2/5/2008
Order
Type: Order		Date on the document: 8/19/2008
Case Management Order No. 1
Type: Order of Consolidation		Date on the document: 09/24/2008

REFERENCE COMPLAINT

In Re: Citigroup Inc., Securities Litigation

COURT: S.D. New York	DOCKET NUMBER: 07-CV-09901
JUDGE NAME:
DATE FILED: 02/20/2009	SOURCE: Docket
CLASS PERIOD START: 01/01/2004	CLASS PERIOD END: 02/22/2008
TYPE OF COMPLAINT: First Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Robbins Geller Rudman & Dowd LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Class Action Complaint
Type: Complaint		Date on the document: 12/01/2008
Amended Consolidated Class Action Complaint
Type: Complaint		Date on the document: 02/20/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 12/30/2009
Opinion & Order
Type: Order		Date on the document: 11/09/2010
Opinion & Order
Type: Order		Date on the document: 11/09/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/09/2010
Declaration Of Gregg A. Jarrell
Type: Declaration		Date on the document: 07/15/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/17/2011

OTHER DOCUMENTS
Order of Consolidation
Case Name and/or Number: In Re: Citigroup Inc. Bond Litigation
Type: Order		Date on the document: 05/07/2009
Transfer Order
Case Name and/or Number: In Re: Citigroup Inc. Securities Litigation
Type: Order		Date on the document: 08/07/2009

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