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On November 2, 2009, the California Supreme Court issued an opinion in Schachter v. Citigroup, Inc., __ Cal.4th __ (2009), holding that an employment incentive provision calling for the forfeiture of restricted company stock ... before vesting did not run afoul California Labor Code sections 201, 202, and 219. Under the specific facts of the case, Citigroup had offered a voluntary employee incentive compensation plan that provided employees with shares of restricted company stock at a reduced price ...

... has a mere hope or expectation of a reward matured into a fully vested proprty right that must be paid by the employer without further delay or reduction? The California Supreme Court recently shed a bit more light on this issue in Schachter v. Citigroup, Inc. In that case, a stockbroker had elected to take some of his compensation in the form of "restricted stock," which would only vest if he were still employed by ...

Nothing all that exciting here, but in Schacter v. Citigroup, Inc. (November 2, 2009), the California Supreme Court examined a voluntary employee incentive compensation plan that provided employees with shares of restricted company stock at a reduced price in lieu of a portion of the employee's annual cash compensation. Under the program, if an employee resigns or is terminated for cause before their restricted shares of stock vest, ...

... for its failure to reasonably supervise the commissions that clients were charged for stock and options trades. Citigroup Global Markets is Citigroup Inc's brokerage and securities arm. FINRA says that between April 2002 and January 2006, then- ... but is not admitting or denying the charges. The firm offered to reimburse customers who were affected. Related Web Resources: Citigroup Global Markets Fined $300,000 for Failing to Supervise Commissions Charged to Customers on Stock and Option Trades, ...

The Delaware chancery court has decided two very important cases arising out notorious cases of managerial malfeasance or neglect - In re Citigroup Inc Shareholder Derivative Litigation, decided last Tuesday, and American International Group, Inc. Consolidated Derivative Litigation, decided February 10. ' The bottom line is that Chancellor Chandler dismissed a Caremark bad faith monitoring claim in Citigroup, but VC ...

... entities and/or its employees made misrepresentations or omissions in the context of the sale of auction rate securities (ARS)." In re Citigroup, Inc., Auction Rate Securities (ARS) Marketing Litig. (No. II), ___ F.Supp.2d ___ (Jud.Pan.Mult.Lit. June 10, 2009) [Slip Opn., at 1]. ... class actions transferred to the Southern District of New York. Id., at 3. Download PDF file of In re Citigroup, Inc., Auction Rate Securities (ARS) Marketing Litigation (No. II) Transfer Order

... , which has been plagued with lawsuits and government investigations into its financing of bankrupt Enron and ailing WorldCom. In 1998, Citigroup's lobbying helped repeal a federal law that prevented banks from getting into other businesses, allowing the company to acquire ... out who really needs a bail-out and who doesn't, but with a history like this, why should we believe that Citigroup was OH SO surprised at new financial problems that they couldn't possibly have foreseen?? And how do we keep ...

... were wages and their forfeiture constituted a conversion of wages. Schachter v. Citigroup, Inc., 159 Cal.App.4th 10, 70 Cal.Rptr.3d ... funds were employee wages. Schachter, at 781-82. The question, then, was whether Citigroup failed to promptly pay earned but unpaid wages at the time of resignation or termination ... erroneous premise he was not in fact paid the money used to purchase the restricted Citigroup shares" and that it "ignores both the substance and the economic reality of the transaction he ...

... red umbrella mark and the slogan "You're better off under the umbrella" from Citigroup Inc. The red umbrella, first appearing in a Travelers advertisement in 1870, became the official trademark ... regarded Travelers brand." In 2002, the Travelers Property Casualty Corporation spun off from Citigroup in 2002, and merged two years later with St. Paul Companies. The red ... . 1,161,313: LINK St. Paul Travelers Press Release: LINK Citigroup Press Release: LINK Bloomberg News Article: LINK U.S. Trademark No ...

From the Wall Street Journal (sub req'd): The federal government agreed Sunday night to rescue Citigroup Inc. by helping to absorb potentially hundreds of billions of dollars in losses on toxic assets on its balance sheet and injecting ... into financial institutions, federal officials now appear to be willing to help shoulder bad assets, on a targeted basis, from specific institutions. Citigroup is one of the world's best-known banking brands, with more than 200 million customer accounts in 106 ...