The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Citigroup Inc. (NYSE: C) who purchased shares between February 25, 2017 and October 12, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Citi lawsuit alleges that defendants willfully or recklessly made and/or caused the Company to make false and misleading statements regarding Citi’s internal controls and risk management capabilities that failed to disclose the serious and longstanding inadequacy of Citi’s internal controls, data governance, compliance risk management, and enterprise risk management. As a result, Defendants’ statements about Citi’s internal controls and risk management were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders have until December 29, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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