Citigroup, Inc. Voluntary FA Capital Accumulation Program Participants filed class action lawsuit against Citigroup, Inc.

On behalf of all persons who participated in the Citigroup, Inc. Voluntary FA Capital Accumulation Program, Dostart Clapp Gordon & Coveney, LLP filed a class action lawsuit in the United States District Court, Southern District of California, .

The lawsuit was filed on March 24 2009, and the name of the case is styled Brecher and Short v. Citigroup, Inc., et al.

As defined in the complain, under the FA CAP, participants used their earned wages to acquire restricted or deferred common stock (”CAP Shares”) or a stock option (”CAP Option” and, collectively with CAP Shares, the “Securities”) of Citigroup pursuant to a prospectus.

Citigroup sold the Securities to employees in order to allow employees to have a percentage of their annual compensation paid in the form of awards of restricted common stock.

The Complaint alleges that the Offering Documents, however, included untrue statements of material fact and omitted material information. A copy of the complaint filed in this action is available from the Court, or by contacting Dostart Clapp.

If you were an FA CAP participant, you may request that the Court appoint you as lead plaintiff by May 29, 2009. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.

If you wish to discuss this action or have any questions, please contact Dostart Clapp Gordon & Coveney, LLP at 4370 La Jolla Village Drive, Suite 970, San Diego, California 92122, by telephone at (858) 623-4200 (James F. Clapp or Marita Murphy Lauinger), via e-mail at jclapp@sdlaw.com or mlauinger@sdlaw.com. All e-mail correspondence should make reference to Citigroup.

Source: FoxBusiness

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