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Judge tells lawyers who sued Citigroup: No, you can’t pay yourself that much

Judge tells lawyers who sued Citigroup: No, you can’t pay yourself that much

Some lawyers sued Citigroup Inc. , and wanted to pay themselves $146 million. Not so fast, a New York judge said this week, then lopped $29 million off their proposal.

Lawyers at Bernstein Litowitz Berger & Grossmann had spearheaded a lawsuit against the bank, where investors like the Louisiana Sheriffs’ Pension and Relief Fund and the City of Tallahassee Retirement System said that they had been misled about the quality of mortgage-related bonds that the bank sold them from 2006 to 2008.

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