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Citigroup To Pay $13.5M To Settle Investor Claims Over Hedge Fund Losses

Mealey's (August 12, 2015, 3:31 PM EDT) -- NEW YORK — Citigroup Inc. and one of its subsidiaries will pay $13.5 million to settle investor claims that they and other defendants misled the investors about, among other things, the financial condition of a hedge fund that was ultimately liquidated at three cents on the dollar, according to a motion for settlement filed by the investors filed Aug. 10 in New York federal court (Dr. David Beach, et al. v. Citigroup Alternative Investments LLC, et al., No. 12-7717, S.D. N.Y.).

(Motion for settlement available. Document...
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