Citibank Moves For Summary Judgment In Securities Lawsuit

Mealey's (April 12, 2017, 12:03 PM EDT) -- NEW YORK — Trustees cannot be held liable for not pursuing enforcement actions against a party that is deemed to be bankrupt at the time the trustee discovers facts giving rise to a claim, a trustee argues in an April 7 motion for summary judgment filed in a shareholder derivative and securities class action lawsuit filed in New York federal court (Fixed Income Shares:  Series M, et al. v. Citibank N.A., et al., No. 14-9373, S.D. N.Y.)....