WASHINGTON POST NEWS ALERT
Judge strikes down Citigroup's $285 million settlement with SEC
A federal judge in New York has struck down a $285 million settlement
that Citigroup reached with the Securities and Exchange Commission,
citing a need for truth about the financial markets.
The deal would have imposed penalties on Citigroup even as it allowed
the company to deny allegations that it misled investors on a complex
mortgage investment. The SEC has accused the bank of betting against
the investment in 2007 and making $160 million, while investors lost
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