July 29, 2010
Citigroup Settles SEC Action Regarding Subprime Mortgage Exposure
Posted by Christine Hurt

The SEC announced today both the complaint against Citigroup and two of its executive officers and the settlement of that complaint for $75 million.  Here is the complaint.  Apparently, between July and October 2007, Citigroup made statements both in public filings and on investor calls to the effect that their subprime exposure was $13 billion when it was closer to $40 billion, if one includes two categories of assets that Citigroup was not including in that figure.  Citigroup neither admits nor denies that the statements were false, but agrees to pay.  The officers pay $100,00 and $80,000 respectively.

Now, what does this do to the civil litigation?

Financial Crisis | Bookmark

TrackBacks (0)

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8345157d569e20133f2b460aa970b

Links to weblogs that reference Citigroup Settles SEC Action Regarding Subprime Mortgage Exposure:

Bloggers
Papers
Posts
Recent Comments
Popular Threads
Search The Glom
The Glom on Twitter
Archives by Topic
Archives by Date
January 2019
Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31    
Miscellaneous Links