Investors against Citigroup

Investors against Citigroup

26.11.2015 News

Investors against CitigroupPIMCO and other investors appealed to the court with the case against Citigroup, due to the fact that the bank is not able to control the mortgage loans, resulting in $2.3 billion of losses.

Citigroup will respond in a New York´s state court in Manhattan for actions that not justified the confidence of investors. Now the bank could ruin business relationships with other major clients. A class action lawsuit will be filed against one of the world’s largest financial corporations and a total loss is unknown yet.

Citigroup´s spokeswoman – Danielle Romero-Apsilos refused to comment this situation. PIMCO also refused to comment the situation of the press. It should be noted that PIMCO is currently suing claims against other banks, referring to the similar circumstances related to mortgage loans and losses arising on this basis.

We recall that last year there was such a precedent. PIMCO went to the court against Citigroup in the case of mortgage bonds. Then the bank charged that despite the fact that Citigroup knew about the low quality bonds, they still sold them to customers, which ultimately led to the multibillion-dollar losses.

Other articles

  • The Ministry of Justice won the lawsuit over the sale of Prominvestbank
    News

    The Ministry of Justice won the lawsuit over the sale of Prominvestbank

    The Kyiv Court of Appeal denied to Russia’s Vnesheconombank (VEB) in recognition of the decision of the arbitrator of the Arbitration Institute of the Stockholm Chamber of Commerce, which, at the request of VEB, the Ministry of Justice of Ukraine was obliged to stop the forced sale of 99.77% of Prominvestbank shares. The court agreed […]

  • The losses of Ukrainian farmers due to the drought were estimated at 118 billion
    News

    The losses of Ukrainian farmers due to the drought were estimated at 118 billion

    Ukrainian farmers may lose up to 118 billion hryvnias this year due to drought and frost. This was reported by the press service of the Agrarian Union of Ukraine. “This year, even the critically affected regions (Odessa, Mykolaiv, Kherson, Zaporizhia regions), despite the promises of the state, did not receive a single penny of assistance,” […]

  • IPO Snowflake may become one of the most popular in 2020
    News

    IPO Snowflake may become one of the most popular in 2020

    IPO Snowflake, which will take place on the NYSE, will be held at the higher price than announced in early September. On Monday, according to SEC applications, Snowflake, a company that makes storage software, raised its projected stock price to $ 100- $ 110, while the market valuation of the company could grow to $ […]

  • Visa and Vsi. Svoi have launched “Her business”, a contest to support Ukrainian women entrepreneurs
    News

    Visa and Vsi. Svoi have launched “Her business”, a contest to support Ukrainian women entrepreneurs

    The professional jury will select three winners who will receive UAH 100,000 for the development of their own businesses. The first-place winner will present products in her own “corner” in one of the two Vsi. Svoi stores on Khreshchatyk. All three winners will present their products at the online platform vsisvoi.ua and will receive mentor sessions […]

  • Microsoft will build two large data centers in New Zealand
    News

    Microsoft will build two large data centers in New Zealand

    The American corporation Microsoft has received permission from the New Zealand Department of Foreign Investment to build data centers in Auckland. This is stated in a statement issued by the agency on Wednesday. “New Zealand subsidiaries of Microsoft Corporation received management’s approval of foreign investments to purchase business assets, including various land, to further creation […]

  • The global M&A market in 2020 is approaching to $ 2 trillion
    News

    The global M&A market in 2020 is approaching to $ 2 trillion

    According to the Investor`s news, in 2020, the volume of transactions worldwide mergers and acquisitions (M & A) totaled $ 1.97 trillion. The publication noted that major transactions between IT-companies account for almost one fifth of the total. According to the global data provider and stock market infrastructure Refinitiv, the volume of the deals of […]

  • Wizz Air has canceled about 20 routes from Ukraine till March 2021
    News

    Wizz Air has canceled about 20 routes from Ukraine till March 2021

    Hungarian airline Wizz Air reduces the number of flights from Ukraine in the winter flight schedule. This was reported by lowcostavia. Dozens of flights from Ukraine were reduced – 12 routes are canceled by March 2021, even more destinations are temporarily suspended until the end of October. Flights from all cities of Ukraine have changed. […]

  • Oracle becomes a №1 candidate of buying the TikTok after the company rejected for Microsoft
    News

    Oracle becomes a №1 candidate of buying the TikTok after the company rejected for Microsoft

    Microsoft`s shares fell slightly on Monday before the opening of trading due to the news of the failure the deal of buying the popular application TikTok in Chinese ByteDance. Through the support of the deal by President Donald Trump, Shares of Oracle, which is considered №1 candidate of buying TikTok increased by 10% before the […]

Read also

Investors against Citigroup
News

Moody’s improves Outlook for the banking system of Ukraine

Moody’s improved the forecast for Ukraine’s banking system to stable from negative, according to the website of the credit Agency. Today, analysts’ opinions have changed. Experts believe that the work of Ukraine’s recovery after a deep recession in recent times has yielded results and stabilized the situation in the country. This conclusion is made in […]

Next
Investors against Citigroup
News

Boeing is facing an investigation of FAA production problems 787 Dreamliner

Stocks Boeing, which fell by 47.5% since the beginning of the year fell by 1.6% before the opening of trading on Tuesday amid news of a new FAA investigation. The US airline is going through the most difficult period in its history, continuing to expect recertification of the most profitable passenger`s aircraft Boeing 737 Max, […]

Next
Investors against Citigroup
News

China’s Economy Grows For The First Time Since The Pandemic

In the second quarter of 2020, China’s economy grew after a historic downturn in the previous three months. This was reported by Interfax with reference to the State Statistical Office of China on Thursday, June 16. Thus, China’s GDP in April-June increased by 3.2% compared to the same period last year. The recovery was caused […]

Next
Investors against Citigroup
News

Bayer to invest $ 300 million in the creation of new businesses

In his new project, the pharmaceutical giant Bayer wants to unite the genome editing technology crispr with their experience in trying to develop new drugs. Bayer, in close cooperation with Crispr Therapeutics AG on the basis of new technologies will seek to establish modern medicines from hemophilia and heart disease of newborns. In a joint […]

Next
Investors against Citigroup
News

In Ukraine will be produced of up to 50 medicine products from India

At the pharmaceutical plant “Kusum Pharm” in Sumy by the end of 2019 the production will be doubled, which will allow to produce up to 50 new names of drugs. This will be possible thanks to the implementation of the import substitution program. This was told reporters co-founder and CEO Rajeev Gupta, during an official […]

Next
Investors against Citigroup
News

Shares in the Chinese markets are falling rapidly after a brokerage scandal

Shares continue to fall in the Chinese stock market. Two major Chinese exchanges experienced a sharp decline in prices. One reason for this is the fact of fraud in the local exchange market. It will be recalled that, that the employees of the two major Chinese exchanges in the summer of 2015 are under investigation. […]

Next
Investors against Citigroup
News

Microsoft, Vodafone, Hewlett-Packard: AI Conference Kyiv to Gather Top AI Experts

On June 4, Smile-Expo will hold annual AI Conference Kyiv in the capital of Ukraine. This year, the conference is focused on business automation using artificial intelligence. Speakers include leading experts from Microsoft, Vodafone, Hewlett Packard Enterprise, METRO Cash & Carry, and other well-known companies. Keynote Speakers of AI Conference Kyiv The conference primarily aims […]

Next
Investors against Citigroup
News

AMC instituted a proceeding against the “Ukrtatanafta”

The Antimonopoly Committee of Ukraine (ACU) instituted a proceeding against JSC “Ukrtatnafta” for submitting the committee with incomplete information. As the press service of the AMC said, the committee is investigating part of case instituted on the grounds of violations of the legislation on the Protection of Economic Competition by the companies  “Ukrtatnafta” JSC, “SPC-Galicia”, […]

Next
Investors against Citigroup
News

The major producer of sunflower oil Allseeds challenged in the court the allocation of land in Yuzhny sea port

Allseeds group companies challenged in court the decision of the Vizirskyi village council (Odessa region) on the allocation of land for the berths of the “Energo Products Co., Ltd.” company (Odessa) in the Yuzhny sea port. The Comintern District Court of Odessa region (included in Allseeds Group) decided to suspend the decision on the suit […]

Next
Investors against Citigroup
News

Commerzbank is suing four banks in the US for $ 2 billion

Failure by banks of their obligations under the agreement is a part of the reason for the lawsuits, the amount of which is sometimes measured in billions of dollars, it depends on the losses. One of the largest financial institutions in Germany  Commerzbank, requires four US banks for damages in the amount of $ 2 […]

Next
Investors against Citigroup
News

As US retailers are boycotting the “Black Friday” in 2015?

At 27th of November, 2015 the famous American company REI, which sells products for sports, tourism and travel, reported that on Friday – 30th of November, all 143 stores will be closed. The company decided to arrange for their employees a paid for the output. This decision is a kind of protest against rampant consumerism. […]

Next
Investors against Citigroup
News

The court restrainted Billa to open a supermarket on a parking area

The “Billa-Ukraine” Company was restrainted the exploitation of the ground floor of an apartment house №27 on the Chornovil street in Kyiv, where on April 27, 2016 the opening of the supermarket was planned. This decision was concluded by the  Shevchenko district court on April 21. As reported the initiative group of the residents, the […]

Next
Investors against Citigroup
News

Became known the consequences of restructuring in Google

This week the report of the Alphabet associated company of Google for the fourth quarter 2015 is eagerly awaited  in Wall Street. The company for the first time reports on the results separately from the rest of their enterprises. In October, Google conducted a massive restructuring process and has become a part of Alphabet holding […]

Next
Investors against Citigroup
News

The “Interhim” Odessa pharmaceutical company invested 42 million UAH in its production

The “Interhim” pharmaceutical company has completed the construction of laboratory and manufacturing facility in Odessa. Besides, the company has invested in increasing of production capacities. This step will allow the company to increase 4 times its production. At the beginning of May  2016 the total investment  is  42 million euros. The number of new jobs […]

Next
Investors against Citigroup
News

Lawyer.ua – the first legal assistance on the international scale

S&P Investment Risk Management Agency launched a legal portal Lawyer.ua 5 years ago. It was designed as an innovative online-platform for lawyers’ communication and for all who needed legal assistance. Experts now can effectively provide legal services in personal online-cabinets while clients can get qualified legal assistance promptly. Today, Lawyer.ua has grown into a large-scale […]

Next
Investors against Citigroup
News

Wells Fargo Reported Worse-than-expected Losses and Reduced Dividend

Today Wells Fargo, the fourth-largest U.S. bank, reported record losses of $2.4 billion in the second quarter, which was even worse than the bank management and Wall Street analysts expected. For the three months by June 30, Wells Fargo’s loss was $0.66. This is $0.46 worse than analysts’ forecast of $0.20 loss per share. One […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com