According to The Wall Street Journal, American Eagle Outfitters Inc. is suing Citigroup Inc. The clothing corporation claims that the banking company fraudulently persuaded them to purchase $258 million worth of securities.At the time of the sale, the banking company allegedly claimed that the securities were safe and liquid. However, American Eagle now feels like they have been bamboozled because the value of the securities have greatly declined, leaving them virtually unsellable.
Citigroup has been in the news a lot recently for controversial financial maneuverings.
CLICK HERE for the story of Citigroup, and their controversial attempt to purchase a $50 million corporate plane.
CLICK HERE for the story of Citigroup, and their controversial decision to spend $400 million to place their name on the new Mets stadium.
No comments:
Post a Comment