Securities & Stock Broker Fraud Blog
NEW YORK (Legal Newsline) – Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Citigroup who are victims of, and suffered damages and losses in their pension funds, due to regulatory fines and penalties. A securities class action against Citigroup has been filed in New York federal court. Their plaintiff is the City of Sunrise Firefighters’ Pension Fund, which claims in the Oct. 30 lawsuit that Citi’s risk management evaluation exposed the company to more than $1 billion in regulatory penalties. A month ago, Citigroup was fined $400 million. In September, when it became evident penalties were coming, the company’s stock dropped from $51 per share to $43.68 by October. The company had mistakenly sent Revlon creditors $900 million of its own funds. Citi said it would boost investment in internal procedures by $1 billion. “In total, because of Citi’s deception relating to its internal controls and compliance systems, $17.43 billion of shareholder value has evaporated and class members were the ones who suffered from the defendants’ actions”, it states
Miller Stern Lawyers, LLC, a Baltimore Securities Law firm, currently represents investors for claims of investment losses from unauthorized trading, over concentration, irregular options trading, margin and unsuitability claims, broker fraud, securities fraud, securities litigation and other broker and broker/dealers for investment losses and fraud. If you or anyone you know have experienced investment losses from the actions above or other situations, please call 410-LAW-FIRM ( 410-529-3476 ) or fill out the contact us form for a no cost consultation and evaluation of your claim