Citigroup agrees to pay $590M in shareholder suit

Citigroup has agreed to pay $590 million to settle legal claims by shareholders that its executives misled them about the bank’s growing problems before the financial crisis.

The bank denied the allegations Wednesday, but said it agreed to the deal to eliminate the cost and uncertainty of litigating the class-action suit.

via Citigroup agrees to pay $590M in shareholder suit — AP