NY judge rejects $285M SEC-Citigroup agreement (AP)

By admin on November 29th, 2011

FILE - In this Nov. 23, 2010 file photo, the corporate logo for Citigroup is shown, in New York. A federal judge on Monday, Nov. 28, 2011, struck down a $285 million settlement that Citigroup reached with the Securities and Exchange Commission, saying he couldn't tell whether the deal was fair and criticizing regulators for shielding the public from the details of what the firm did wrong. (AP Photo/Mark Lennihan)AP – A judge on Monday used unusually harsh language to strike down a $285 million settlement between Citigroup and the Securities and Exchange Commission over toxic mortgage securities, saying he couldn’t tell whether the deal was fair and criticizing regulators for shielding the public from details of the firm’s wrongdoing.


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