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BANUS v. CITIGROUP GLOBAL MARKETS, INC.

No. 09 Civ. 7128(LAK).

757 F.Supp.2d 394 (2010)

Thomas A. BANUS, et al., Plaintiffs, v. CITIGROUP GLOBAL MARKETS, INC., et al., Defendants.

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

December 20, 2010.

Attorney(s) appearing for the Case

Mark R. Thierman , Thierman Law Firm, Leon Greenberg , for Plaintiffs.

Sam S. Shaulson , Melissa R. Kelly , Morgan, Lewis & Bockius LLP, for Defendant Citigroup Global Markets, Inc.

MEMORANDUM OPINION

LEWIS A. KAPLAN, District Judge.

Plaintiffs all were financial consultants for defendant Citigroup Global Markets, Inc. ("CGMI"), which did business under the Smith Barney name. In connection with their hiring by CGMI, each received what plaintiffs call a "signing bonus"— actually, as plaintiffs acknowledge, "a forgivable loan ... to be forgiven in equal yearly amounts over a term of seven years."1 If...

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