Citigroup agreed to pay $2.65 billion to settle all claims asserted against it in the WorldCom securities class-action lawsuit, Alan G. Hevesi, New York state comptroller and sole trustee of the $106 billion New York State Common Retirement Fund and court-appointed lead plaintiff, announced today. This represents the largest amount ever recovered in a securities class action from a party other than the company that issued the subject securities.
Claims are still outstanding against the remaining 17 underwriters of WorldCom securities, auditor Arthur Andersen and the former directors and senior officers of WorldCom.
