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Citigroup to pay $730 million to settle lawsuit

SeattlePI.com
Tuesday, 19 March 2013

Citigroup to pay $730 million to settle lawsuit
NEW YORK (AP) — Citigroup has agreed to pay $730 million to settle a class-action lawsuit that claimed investors were misled by the bank's disclosures when they purchased its debt and preferred stock. Corbat's first bold move was a decision, announced in December, to cut 11,000 jobs, close dozens of branches and trim the company's consumer banking business in some countries.
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