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Citigroup Inc. hit with class action lawsuit by Citigroup preferred Series F (NYSE:C-M) investors
By Shareholders Foundation, Inc. Dated: Apr 03, 2009
Class action lawsuit in behalf of certain investors in NYSE:C-M 8.50% Non-Cumulative Preferred Stock, Series F of Citigroup, Inc. – Contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com On Friday an investor in Citigroup, Inc 8.50% Non-Cumulative Preferred Stock, Series F (NYSE:C-M) has filed a proposed securities class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons who acquired depositary shares of Citigroup, Inc. 8.50% Non-Cumulative Preferred Stock, Series F (NYSE:C-M) pursuant and/or traceable to a false and misleading registration statement and prospectus issued in connection with the Company’s May 2008 initial public offering of the preferred series F shares of Citigroup over alleged securities laws violations by Citigroup, Inc, certain of its officers and directors, the underwriters of the Offering of the preferred Series F and Citigroup’s auditor. If you purchased depositary shares of Citigroup, Inc. 8.50% Non-Cumulative Preferred Stock, Series F (NYSE:C-M) pursuant and/or traceable to a false and misleading registration statement and prospectus issued in connection with the Company’s May 2008 initial public offering of the preferred series F shares of Citigroup you have certain options and there are strict and short deadlines running. (June 2, 2009). You should contact the Shareholders Foundation, Inc. immediately! Email: mail@shareholdersfoundation.com Or call us at: +1 (858) 779 - 1554 According to the complaint the plaintiff alleges that Citigroup, certain of its officers and directors, the underwriters of the Offering and Citigroup’s auditor violated the Securities Act of 1933. It is the second securities class action on behalf of certain preferred shares against Citigroup. Citigroup was already hit by a proposed securities class action on behalf of Citigroup 8.125% Non-Cumulative Preferred Stock, Series AA, pursuant and/or traceable to a false and misleading registration statement and prospectus to issued in connection with the Company’s January 2008 offering of the Company’s Preferred Stock on March 13, 2009. The complaint from Friday, April 03, 2009 alleges defendants consummated the Offering of the preferred Series F pursuant to the false and misleading Registration Statement and Prospectus selling 81.6 million shares of the Securities at $25 per share, for proceeds of over $2 billion. The Registration Statement incorporated Citigroup’s financial results for 2007 and the first quarter of 2008. Citigroup ultimately announced huge multi-billion dollar writedowns associated with its exposure to subprime mortgages, related bonds called collateralized debt obligations, and commercial real estate loans and investments, as well as loans to companies with low credit ratings, causing the price of the Securities to decline, so the lawsuit. If you purchased depositary shares of Citigroup, Inc. 8.50% Non-Cumulative Preferred Stock, Series F (NYSE:C-M) pursuant and/or traceable to a false and misleading registration statement and prospectus issued in connection with the Company’s May 2008 initial public offering of the preferred series F shares of Citigroup you have certain options and there are strict and short deadlines running. (June 2, 2009). You should contact the Shareholders Foundation, Inc. immediately!
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Email: mail@shareholdersfoundation.com Or call us at: +1 (858) 779 - 1554 Shareholders Foundation, Inc. Trevor Allen 3111 Camino Del Rio North - Suite 423 92108 San Diego Tel:+1-(858)-779-1554 Fax:+1-(858)-605-5739 mail@shareholdersfoundation.com www.ShareholdersFoundation.com _____________________________________________________________________________________ ### Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Category Tags Email Phone Fax Address City/Town State/Province Zip Country Banking, Business, Legal citigroup, 8 50 preferred series f, citigroup preferred f, citigroup preferred series f, c-m, nyse c-m Click to email author +1-(858)-779-1554 +1-(858)-605-5739 3111 Camino Del Rio North - Suite 423 San Diego California 92108 United States
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