(Bloomberg) A failed hedge fund, whose manager was jailed for fraud, sued Citigroup Inc. over allegations the bank undervalued assets when it closed out trades at the height of the 2008 financial crisis.Liquidators of Millennium Global Emerging Credit Fund Ltd., which had almost $1 billion in losses, said Citigroup terminated positions too quickly and at rates that didn’t reflect the market, according to court papers filed in October and made available last week.
Citigroup Sued by Failed Hedge Fund Over 2008 Crisis Trades
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