Judge Preliminarily OKs $590M Citigroup Securities Class Action Settlement

NEW YORK - (Mealey's) A federal judge in New York on Aug. 29 granted preliminary approval of a $590 million settlement between shareholders, Citigroup Inc. and certain of its current and former executive officers and directors on claims that the defendants misrepresented Citigroup's exposure...

Standard & Poor’s Sued Over Inflated Ratings on Structured Debt Securities

LOS ANGELES - (Mealey's) The U.S. government on Feb. 5 announced the filing of a lawsuit in California federal court against Standard & Poor's Ratings Services alleging that the ratings agency lied about its objectivity and independence and issued inflated ratings on certain structured...