Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, September 24, 2010

Judge Says She'll Approve SEC-Citigroup Settlement

The federal district judge who initially expressed concerns about the proposed SEC-Citigroup $75 million settlement said today that she would approve it after the parties agreed to additional changes in the bank's disclosure policies.  The SEC sued Citigroup alleging inadequate disclosures about its $40 billion portfolio in subprime mortgage assets in 2007.  While Judge Huvelle said that $75 million "is not going to deter anyone," she said she would defer to the agency.  WSJ, Judge Signals Approval of Citi-SEC Settlement

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