SECURITIES CLASS ACTION PROSECUTED BY BALESTRIERE AND OTHER PLAINTIFFS' ATTORNEYS GOES FORWARD

John Balestriere, working with another attorney at his firm and with other securities class action attorneys, obtained a victory from a federal judge in Manhattan who agreed that the complaint drafted by Balestriere was legally sufficient, and that the case against Citigroup, former Citi boss Sandy Weill, and fomer star analyst Jack Grubman, could go forward. The case was one of the first victories for shareholder plaintiffs amongst the several securities class actions filed in the last few years in the fallout of the widespread analyst fraud recently uncovered and resulting from rampant conflicts of interests.

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