|Class Period||January 15, 2016 to October 12, 2020|
|Motion Deadline||December 29, 2020|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Citigroup (NYSE: C). Investors who purchased Citigroup stock or other securities between January 15, 2016 and October 12, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email firstname.lastname@example.org or call 617-531-3917. Interested Citigroup investors have until December 29, 2020 to apply to be a lead plaintiff.
The case alleges that Citigroup and its senior executives assured investors that there were no significant deficiencies or material weaknesses in the Company’s internal controls. Specifically, it is alleged that Citigroup assured investors that it satisfied all regulatory requirements and maintained adequate internal controls, data governance, compliance risk management, and enterprise risk management. When the truth that internal controls and risk management capabilities suffered from “serious” and “longstanding” inadequacies that exposed Citigroup to massive regulatory penalties was revealed to the public, Citigroup’s stock price declined, thereby damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Citigroup investors have until December 29, 2020 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.