Legal Opinion
In Re Citigroup Inc. Shareholder Derivative Litigation
Court of Chancery of Delaware
Decided February 24, 2009No. Civil Action 3338-CCPublishedCited by 268 opinions
1Opinion of the Court
OPINION
CHANDLER, Chancellor.
This is a shareholder derivative action brought on behalf of Citigroup Inc. (“Citigroup” or the “Company”), seeking to recover for the Company its losses arising from exposure to the subprime lending market. .Plaintiffs, shareholders of Citigroup, brought this action against current and former directors and officers of Citigroup, alleging, in essence, that the defendants breached their fiduciary duties by failing to properly monitor and manage the risks the Company faced from problems in the subprime lending market and for failing to properly disclose Citigroup’s…
2Cases cited37 opinions
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