New York Times
For six months, the competing claims have played out in court papers and public charges. The trustee for the victims of Bernard L. Madoff’s Ponzi scheme has accused the Mets’ owners of ignoring repeated warnings that Madoff might have been up to no good during their years of investing with him. The owners, the trustee […]
Investment News
Clients of David Lerner Associates Inc. holding shares in nontraded REITs created by Apple REIT Cos. Inc. received account statements at the end of last month in which the longtime value of the shares was shown as “not priced.” For years, shares of the real estate investment trusts were listed at $11 on client account […]
New York Times
Two individual investors just scored a remarkable win against Citigroup. A few weeks ago, the pair was awarded a total of $54.1 million in a securities arbitration case against the Smith Barney unit of the company – the largest amount ever awarded to individuals in such a case, according to the Financial Industry Regulatory Authority. […]
Boston Globe
Citigroup Inc., the third-biggest US bank, was ordered to pay more than $51 million to a group of investors in its MAT and ASTA municipal bond hedge funds, which regulators began examining more than two years ago. The ruling by arbitrators at the Financial Industry Regulatory Authority, which oversees US brokerages, includes $17 million in […]
Washington Post
Securities regulators have ordered Citigroup Inc. to pay $54 million to two investors who suffered hefty losses in several municipal bond hedge funds between 2002 and 2007. An arbitration panel of the Financial Industry Regulatory Authority in Denver awarded the investors $34.1 million in compensatory damages and $17 million in punitive damages in an order […]