CitiGroup Mutual Fund Class B and C Shares

Remediation Information

 

Who is eligible for remediation?

Approximately 18,000 customer  households of Citigroup Global Markets (Citigroup) who:

• Between January 1, 2002 and March 22, 2005, purchased Class B shares, through the firm, totaling $50,000 or more in one fund family. To determine whether the $50,000 threshold was met, the firm will combine single purchases and multiple purchases by the customer and members of the customer's "household," as that term is defined in the Letter of Acceptance, Waiver and Consent.
  
  
• Purchased Class C shares between January 1, 2002 and March 22, 2005 which, when aggregated, total $500,000 or more and involve payment of a front-end load, or $1 million or more where no front-end load was paid.

Note that certain purchases are excluded.

If I am eligible, when can I expect to be contacted regarding remediation?
Within approximately 5 months of the enforcement action of January 3, 2006, you should receive a letter from Citigroup.  The firm will also establish a response center to handle customer inquiries, and will provide you with contact information 

 

What options are available to investors?

The remediation plan does not foreclose your ability to pursue arbitration or mediation if you believe you have suffered losses. You should consult an attorney as to your rights.

 

Additional Information

• Press Release: NASD Fines Citigroup, American Express and Chase More than $21 Million for Improper Sales of Class B and C Shares of Mutual Funds.
  
  
• Investor Alert: Class B Mutual Fund Shares: Do They Make the Grade?