A former Citigroup managing director who said she was fired because she refused to mislead a federal regulator about the bank's risk management accused...
NEW YORK - A former Citigroup managing director who said she was fired because she refused to mislead a federal regulator about the bank's risk management accused Citigroup 's chief operating officer of intentional deception, according to an amended lawsuit filed late on Thursday.
Martin's amended complaint in Manhattan federal court repeated the claim that Selva was concerned that reporting accurate information would "make us look bad."Martin said a successful misreporting would have also deceived shareholders and the public, while failure would have had "enormous legal and financial implications" for the third-largest U.S. bank, perhaps including "major" new fines.These included the $135.
That fine was the latest blow for Chief Executive Jane Fraser, who has focused on making Citigroup leaner and made cleaning up its regulatory failings a top priority.It has said it fired Martin last September because she lacked leadership and engagement skills for her job as interim data transformation chair.
The bank has also said her allegations were untrue, and that if they were true her whistleblowing was not protected activity under the federal Sarbanes-Oxley governance law.Citigroup has until Aug. 8 to respond to the amended complaint. The bank had sought on June 27 to dismiss Martin's original complaint, but federal law allowed her to amend it once.
The case is Martin v. Citibank NA et al, U.S. District Court, Southern District of New York, No. 24-03949.The airline denied an Ontario couple from boarding their flight in June after they refused to check in their carry-on luggage. The two argued they didn't want to be separated from their valuables and medication.
Kathleen Martin Federal Regulator Amended Complaint Chief Operating Officer Intentional Deception Risk Management Anand Selva
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