NEW YORK, Aug. 20, 2008 (LAWFUEL) — Kirby McInerney LLP has
been appointed lead counsel to act on behalf of a group of investors
who have been appointed lead plaintiff in a securities class action
against Citigroup Inc (NYSE:C). The action is brought on behalf of all
persons who purchased or otherwise acquired the common stock of
Citigroup between January 2, 2004 and November 21, 2007, inclusive (the
“class period”).
The lawsuit alleges that during the class period, the defendants issued
materially false and misleading statements regarding the Company’s
exposure to losses based upon the Company’s creation and/or sponsorship
of numerous off-balance sheet Variable Interest Entities (“VIE”), and
that these actions constitute violations of the Securities Exchange Act
of 1934. Defendants are Citigroup and certain of its officers and/or
directors.
Disclosure of the truth regarding exposure to VIE-related risks caused,
it is alleged, the price of Citigroup common stock to fall by
approximately half, all totaled, $122 billion in shareholder losses,
which made Citigroup common stock the worst performing stock in the Dow
Jones Industrial Average for 2007.
For further information regarding this case, please contact Kirby
McInerney LLP Partners Roger Kirby or Ira Press at 212.371.6600 or at
km@kmllp.com.
Kirby McInerney LLP is a law firm that has specialized in complex
litigation, including securities class actions, for several decades.
Among numerous other activities, the firm is taking a major role in
defending the interests of those who have sustained losses as a result
of the subprime and credit crisis, leading massive commercial class
action litigations against Moody’s, Citigroup, National City, and
others. More information about the firm, class actions in general, or
about the role of the lead plaintiffs in a securities class action can
be obtained through Kirby McInerney LLP’s website at
http://www.kmllp.com.
Class Action Lawsuit Against Citigroup Inc. — C
Leading Securities Class Action Firm to Pursue Remedies for
Investors Who Lost Share Value Due to Citigroup’s Alleged
Misrepresentations Regarding Subprime Exposure
NEW YORK, Aug. 20, 2008 (GLOBE NEWSWIRE) — Kirby McInerney LLP has
been appointed lead counsel to act on behalf of a group of investors
who have been appointed lead plaintiff in a securities class action
against Citigroup Inc (NYSE:C). The action is brought on behalf of all
persons who purchased or otherwise acquired the common stock of
Citigroup between January 2, 2004 and November 21, 2007, inclusive (the
“class period”).
The lawsuit alleges that during the class period, the defendants issued
materially false and misleading statements regarding the Company’s
exposure to losses based upon the Company’s creation and/or sponsorship
of numerous off-balance sheet Variable Interest Entities (“VIE”), and
that these actions constitute violations of the Securities Exchange Act
of 1934. Defendants are Citigroup and certain of its officers and/or
directors.
Disclosure of the truth regarding exposure to VIE-related risks caused,
it is alleged, the price of Citigroup common stock to fall by
approximately half, all totaled, $122 billion in shareholder losses,
which made Citigroup common stock the worst performing stock in the Dow
Jones Industrial Average for 2007.
For further information regarding this case, please contact Kirby
McInerney LLP Partners Roger Kirby or Ira Press at 212.371.6600 or at
km@kmllp.com.
Kirby McInerney LLP is a law firm that has specialized in complex
litigation, including securities class actions, for several decades.
Among numerous other activities, the firm is taking a major role in
defending the interests of those who have sustained losses as a result
of the subprime and credit crisis, leading massive commercial class
action litigations against Moody’s, Citigroup, National City, and
others. More information about the firm, class actions in general, or
about the role of the lead plaintiffs in a securities class action can
be obtained through Kirby McInerney LLP’s website at
http://www.kmllp.com.
