Analysts are forecasting that Citigroup losses will show even more write downs on subprime-related investments in the second quarter, reducing the value of its assets by $8.9 billion. The news has not been good for the nation’s largest bank and indicates more Citigroup trouble. This is the third consecutive quarter showing Citigroup losses, and sent […]
After billions of dollars in investor losses related to subprime-backed mortgages and other similar investments, Citigroup’s employees are the ones who will ultimately have to suffer. The New York-based banking giant is expected to begin a round of massive lay-offs of investment banking employees this week as part of a corporate plan to reduce its […]
A class action was filed today in the U.S. District Court for the District of Massachusetts on behalf of purchasers of all classes of shares of the Evergreen Ultra Short Opportunities Fund (Evergreen Ultra-Sht;A, Evergreen Ultra-Sht;B, Evergreen Ultra-Sht;C, Evergreen Ultra-Sht;I (the “Ultra-Short Opportunities Fund” or the “Fund”) who purchased or otherwise acquired shares of the […]
One of Citigroup’s much-beleaguered Falcon Strategies hedge funds has been given the green light to move forth with a tender offer initiated in May as part of its wind down. As reported June 17 on Bloomberg.com, a New York federal judge rejected a request by investors to halt the tender offer of the Falcon Strategies […]
The investing public and Wall Street has surely made note of the recent bailout of megabank, Citigroup’s, Asta and Mat hedge funds due to uncertainty in the once-safe municipal bond market. The latest news brings one more warning to be wary of hedge funds whether you invest in them or manage them. According to Financial […]