Citigroup Agrees to Buy Back Securities for $7 Billion

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Sedley

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Citigroup Agrees to Buy Back Securities for $7 Billion

posted on Aug 07, 2008 08:07AM

Can Deutsche be far behind?

Citigroup announced an agreement on Thursday to buy back more than $7 billion of auction-rate securities from investors to settle claims that it misled clients about the dangers of the investments.

The settlement, with state and federal regulators, included a fine of as much as $100 million