Federal Judge Rejects $285M Settlement Between SEC, Citigroup Global Markets

NEW YORK - Ruling that a $285 million settlement between the Securities and Exchange Commission and Citigroup Global Markets fails to show how the settlement is in the public's interest, a federal judge in New York on Nov. 28 rejected the parties' proposed consent judgment and set a July 16 trial date for the action (U.S. Securities and Exchange Commission v. Citigroup Global Markets Inc., No. 11-7387, S.D. N.Y.; See November 2011, Page 5). Full story on lexis.com