Citigroup Inc. (NYSE:C) faces lawsuit for misstatement about the financial condition

  on Dec 14,2012 Posted in Business News ,Finance
 
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A lawsuit has been filed by Swisscanto Asset Management against Citigroup Inc. (NYSE:C) regarding a misstatement about the financial condition of the bank which notified the former organization about substantial losses of the financial institute.

Moreover, Citigroup Inc. submitted a false picture of its assets to Swisscanto according to a suit presented in the court of Manhattan. Additionally, Swisscanto is demanding to receive unspecified damages from Citigroup Inc. (NYSE:C).

On the other hand, Citigroup is defining the lawsuit as misleadingly false and therefore intend to defend against it in the court of law. According to Swisscanto, persistent falsehood from top managers at Citigroup compelled people towards purchasing citi-securities at exaggerated price. Nevertheless, NY central court will be holding a hearing in few days regarding this issue.

Citigroup Inc. (NYSE:C) total value after the recent close was $109.35 billion and the enterprise value according to yahoo data was $-65.52 billion. The previous 12 month price to sales ratio was 1.87. The company showed 10.95% as a profit margin in the last twelve months and an operating margin at 11.41%. Return on equity was 3.94% for the last twelve months. Return on assets was 0.39%.

Taking a look at some competitors, total value of Morgan Stanley (NYSE:MS) in the stock market was $35.14 billion and the takeover value of the company was $-162.97 billion. The last twelve month price to sales ratio for the company was 1.41. It had a -0.84% as profit margin in the last twelve months and an operating margin at -2.59%. Return on assets was -0.03%.

The total value of Bank of America Corp (NYSE:BAC) after the latest trading session was $113.60 billion and their enterprise value was $139.75 billion. The prior 52 week price to sales ratio was 1.41. The company recorded a profit margin of 6.08% for the prior 12 months and had an operating margin of 8.27%. Return on equity for this stock was 1.85% while return on assets appeared at 0.25%.

HSBC Holdings plc (ADR) (NYSE:HBC) market capitalization after the most recent trading session was $198.76 billion and the enterprise value was $-247.16 billion. Price to sales ratio for the prior 52 weeks was 3.40.

 



 

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