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This excerpt taken from the C 8-K filed Jan 23, 2009. Telecommunications Research Class Actions. Beginning in 2002, Citigroup, CGMI and
certain executive officers and current and former employees were named as
defendants in a series of putative class action lawsuits, alleging violations
of the federal securities laws, including Sections 10 and 20 of the Securities
Exchange Act of 1934, as amended, in connection with Citigroup research analyst
reports. One of these actions remains pending, involving Metromedia Fiber
Network, Inc. (“MFN”), In re SALOMON ANALYST METROMEDIA LITIGATION, in the
United States District Court for the Southern District of New York. On January 6,
2005, the District Court granted in part and denied in part Citigroup’s motion
to dismiss the claims against it. On June 20, 2006, the District Court
certified the plaintiff class in the MFN action. The District Court’s class
certification decision is on appeal in the United States Court of Appeals for
the Second Circuit, and oral argument was held in January 2008.
This excerpt taken from the C 8-K filed Aug 14, 2008. Telecommunications
Research Class Actions. Beginning in 2002, Citigroup, CGMI and certain executive officers and
current and former employees were named as defendants in a series of putative
class action lawsuits, alleging violations of the federal securities laws,
including Sections 10 and 20 of the Securities Exchange Act of 1934, as
amended, in connection with Citigroup research analyst reports. One of these
actions remains pending, involving Metromedia Fiber Network, Inc. (“MFN”),
In re SALOMON ANALYST METROMEDIA LITIGATION, in the United States District
Court for the Southern District of New York. On January 6, 2005, the District
Court granted in part and denied in part Citigroup’s motion to dismiss the
claims against it. On June 20, 2006, the District Court certified the
plaintiff class in the MFN action. The District Court’s class certification
decision is on appeal in the United States Court of Appeals for the Second
Circuit, and oral argument was held in January 2008.
This excerpt taken from the C 10-Q filed May 4, 2007. Telecommunications Research Class Actions. On March 23, 2007, the District Court approved Citigroup's settlement of a putative class action, LOS ANGELES CITY EMPLOYEES RETIREMENT ASSOCIATION v. CITIGROUP, which asserted claims under the Securities Exchange Act of 1934 concerning Salomon Smith Barney's equity research coverage of Focal Communications. Customer Class Actions. In DISHER V. CITIGROUP GLOBAL MARKETS INC., on March 2, 2007, the District Court vacated its 2005 order dismissing the case and remanded the action to Illinois state court. | EXCERPTS ON THIS PAGE:
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