Maddox Hargett & Caruso reported that New York City based Financial Industry Regulatory Authority arbitration panel has ordered Citigroup Global Markets, Inc. to pay compensatory damages of more than $1.471 million to a client of Maddox Hargett & Caruso, P.C. in connection with her 2007 purchase of the Rochester Fund Municipals Fund.
Steven Caruso, of Maddox Hargett & Caruso, P.C., who served as counsel for the investor said, "Through the issuance of this arbitration award, our client not only received a substantial portion of the losses that she sustained as a result of her investment in the Rochester Fund Municipals Fund, but the arbitrators also further held Citigroup liable for 9% of statutory interest on her principal loss as well."
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