October 26, 2012
Massachusetts Fines Citi $2 Million for Tech Analyst's Improper Disclosures
Massachusetts Securities Division fined Citigroup $2 million for failing to supervise tech analyst Mark Mahaney and a junior analyst who improperly disclosed confidential information about Facebook's IPO and Google's revenue estimates. Citigroup fired Mahaney, who is a top-ranked internet analyst. Citigroup admitted to the statement of facts and agreed to cease and desist from violating state securities laws.
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