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BRECHER v. CITIGROUP INC.

No. 09 Civ. 7359(SHS).

797 F.Supp.2d 354 (2011)

Daniel BRECHER, Scott Short, Chad Taylor, Jennifer Murphy, Paul Koch and Mark Oelfke, individually and on behalf of all others similarly situated, Plaintiffs, v. CITIGROUP INC.; Citigroup Global Markets, Inc.; Alain J.P. Belda; C. Michael Armstrong; Kenneth T. Derr, John M. Deutch; Richard D. Parsons; Ann Dibble Jordan; Citigroup, Inc. Personnel and Compensation Committee; and John Does 1-30, Defendants.

United States District Court, S.D. New York.

June 7, 2011.

Attorney(s) appearing for the Case

Edward Joseph Wynne , Wynne Law Firm, Greenbrae, CA, Jeffrey G. Smith , Mark C. Rifkin , Wolf Haldenstein Adler Freeman & Herz LLP, Richard A. Rosen , Paul, Weiss, Rifkind, Wharton & Garrison LLP, Edward H. Glenn, Jr. , Jacob H. Zamansky , Kevin D. Galbraith , Zamansky & Associates, L.L.C., Christopher Lovell , Lovell Stewart Halebian Jacobson LLP, Edward H. Glenn, Jr. , Zamansky & Associates, L.L.C., New York, NY, Marita Murphy Lauinger , James F. Clapp , Dostart Clapp Gordon and Coveney, Michael L. Kirby , Kirby Noonan Lance & Hoge LLP, Rachele R. Rickert , Wolf Haldenstein Adler Freeman and Herz, San Diego, CA, for Plaintiffs.

Melanie Ronen , Keesal Young and Logan, Long Beach, CA, Brad Scott Karp , Karen R. King , Richard A. Rosen , Susana Michele Buergel , Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, for Defendants.

OPINION & ORDER

SIDNEY H. STEIN, District Judge.

This action arises from Citigroup's alleged failure to disclose adequate truthful information about its exposures to subprime mortgages. Plaintiffs seek to represent a class of those who acquired Citigroup securities via the company's employee stock purchase program. They assert federal causes of action pursuant to Section 12(a)(2) of the Securities Act of 1933 and to Section 10(b) of the Securities...

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