Legal Opinion
U.S. Securities & Exchange Commission v. Citigroup Global Markets Inc.
District Court, S.D. New York
Decided November 28, 2011No. 11 Civ. 7387 (JSR)PublishedCited by 16 opinions
1Opinion of the Court
OPINION AND ORDER
JED S. RAKOFF, District Judge.
On October 19, 2011, the U.S. Securities and Exchange Commission (the “S.E.C.”) filed this lawsuit, accusing defendant Citigroup Global Markets Inc. (“Citigroup”) of a substantial securities fraud. According to the S.E.C.’s Complaint, after Citigroup realized in early 2007 that the market for mortgage-backed securities was beginning to weaken, Citigroup created a billion-dollar Fund (known as “Class V Funding III”) that allowed it to dump some dubious assets on misinformed investors. This was accomplished by Citigroup’s misrepresenting that the…
2Cases cited12 opinions
- Kokkonen v. Guardian Life Insurance Co. of AmericaSupreme Court of the United States · 1994
- Winter v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 2008
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Weinberger v. Romero-BarceloSupreme Court of the United States · 1982
- Salinger v. ColtingCourt of Appeals for the Second Circuit · 2010
7 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Loreley Financing (Jersey) No. 3 Ltd. v. Wells Fargo Securities, LLCCourt of Appeals for the Second Circuit · 2015
- United States Securities & Exchange Commission v. Citigroup Global Markets Inc.Court of Appeals for the Second Circuit · 2012
- United States Securities & Exchange Commission v. Citigroup Global Markets, Inc.Court of Appeals for the Second Circuit · 2014
- In re NexiumDistrict Court, D. Massachusetts · 2013
- U.S. Securities & Exchange Commission v. Citigroup Global Markets Inc.District Court, S.D. New York · 2011
11 more not listed; retrieve them via the Exa API.