The law firm Kirby McInerney LLP announced Wednesday that it has has been appointed lead counsel in a securities class action against Citigroup Inc (C). The action is brought on behalf of all persons who purchased or otherwise acquired the common stock of Citigroup between January 2, 2004 and November 21, 2007, and alleges that the defendants issued materially false and misleading statements regarding Citigroup’s exposure to losses based upon its creation and/or sponsorship of numerous off-balance sheet Variable Interest Entities.
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