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Citigroup Judge Approves $590 Million Settlement

Citigroup Inc. won court approval to pay $590 million to resolve a lawsuit by shareholders alleging the third-largest U.S. bank hid risks tied to toxic assets.

U.S. District Judge Sidney Stein in Manhattan today also awarded the plaintiffs’ lead lawyers fees of $70.8 million, or 12 percent of the fund, as well as $2.8 million in expenses.