Lawsuit Says Citigroup Misled Investors

A new lawsuit accuses Citigroup of employing "shamelessly fraudulent schemes" to disguise the risks it was taking with mortgage debt

An extensive new complaint in a lawsuit against Citigroup (C) charges that the banking giant misled investors about the size and risk of its housing-market wagers, raising questions about how early the bank knew it faced serious trouble from the assets that have plagued its balance sheet and stock price.

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