A unanimous panel of the Appellate Division, First Department, on Tuesday upheld the dismissal of a shareholder derivative lawsuit against more than 20 current and former Citigroup, Inc. executives and directors, including former CEO Charles Prince.
Justice Karla Moskowitz wrote the opinion in Lerner v. Prince, 650417/09, joined by Justices Rosalyn Richter, Sallie Manzanet-Daniels and Judith Gische. The panel affirmed former Manhattan Supreme Court Justice Bernard Fried.
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