Securities case on hold as Judge asks SEC to provide a factual basis for their settlement agreement with Citigroup. On October 19, 2011, the Securities and Exchange Commission (“SEC” or the “Commission”) filed a lawsuit against Citigroup Global Markets Inc. (“Citigroup”) in the United States District Court, Southern District of New York. The Allegations In its complaint, the SEC accuses Citigroup of securities fraud, alleging that in 2007 Citigroup created and marketed a large Synthetic Collateralized Debt Obligation (“CDO”), named “Class V Funding III.”  In helping to create Class V Funding III, Citigroup played a role in determining what......


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