29
Dec

What You Can Do to Recover Money Losses from Citigroup Global Markets

Investor Alert! Antonio Puente aka Tony Puente of VALIC Financial in Miami, FL

Citigroup Global Markets Fined $5.5 Million by FINRA

 

In December 2017, FINRA (the Financial Industry Regulatory Authority) fined Citigroup Global Markets $5.5 million, regarding allegations that Citigroup displayed inaccurate research ratings.  In a regulatory action, FINRA alleged that Citigroup put research ratings regarding 1,800 securities on numerous places, including customer statements, emails, and on an internal platform used by brokers.

 

FINRA alleged that these 1,800 ratings (38% of total securities covered by the firm) were incorrect.  There were several ways in which Citigroup displayed these incorrect ratings, including a) having the wrong research rating for a security (i.e., having a “sell” rating when the actual rating was “neutral” or “buy”); b) displaying a rating when Citigroup did not actually have a rating for the security; or c) no rating displayed when Citigroup actually did have a rating.  This alleged conduct occurred between February 2011 and December 2015.

 

Did you rely on a research rating from Citigroup and lost money investing in a stock, bond, mutual fund, or ETF?  Our firm has represented over one thousand investors who lost money because of bad recommendations from their stockbrokers, including numerous cases against Citigroup.

 

Click to view:  Citigroup Global FINRA AWC Dec 2017

 

 If you lost money because of reliance on research ratings by Citigroup, please CONTACT ISRAELS & NEUMAN for a no-fee initial consultation.

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.