Citigroup Announces Expiration of the 60-Day Exercise Period for Its Litigation Tracking Warrants
04 June 2005 - 7:16AM
Business Wire
Citigroup Inc. (NYSE:C) announced that the 60-day period for
exercise of the Litigation Tracking Warrants (the "LTWs") expired
at 5:00 p.m., New York City time, on June 3, 2005, pursuant to the
terms of the LTWs (Nasdaq:GSBNZ). As a result, all LTWs that had
not been exercised prior to such expiration time have expired and
become void, and are no longer exercisable. The LTWs were initially
issued by Golden State Bancorp Inc. ("GSB") in connection with
Glendale Federal Bank v. United States, an action by Citibank
(West), as successor by acquisition to Glendale Federal Bank,
against the United States government. Citigroup assumed the LTWs in
connection with its acquisition of GSB in 2002. Citigroup, the
leading global financial services company, has some 200 million
customer accounts and does business in more than 100 countries,
providing consumers, corporations, governments and institutions
with a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking,
insurance, securities brokerage, and asset management. Major brand
names under Citigroup's trademark red umbrella include Citibank,
CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life
and Annuity. Additional information may be found at
www.citigroup.com.
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