3 Nonprofits Can Get $590M Citigroup Deal Leftovers

Law360 discusses the Center for Class Action Fairness’ Citigroup case: 

A New York federal judge on Tuesday affirmed his previous decision that the remaining portion of a $590 million securities class action settlement with Citigroup Inc. should be distributed to three nonprofit advocacy groups, saying the groups reflect the purpose of the suit.

Class member Theodore H. Frank had asked the court to rethink distributing the remaining $374,820 from the Citigroup investor settlement to South Brooklyn Legal Services, the National Consumers League and the Consumer Federation of America, arguing that the groups did not adequately align…

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