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Ex-Citigroup Sales Trader Sues for 2019 Unfair Dismissal in Hong Kong.

Authors :
Chan, Cathy
Wong, Kiuyan
Source :
Bloomberg.com; 7/30/2024, pN.PAG-N.PAG, 1p
Publication Year :
2024

Abstract

A former Citigroup trader in Hong Kong, Cindy Lui, is suing the bank for wrongful dismissal in 2019. This lawsuit is part of a larger saga that led to a $44.6 million fine imposed on Citigroup by regulators in 2022. Lui is seeking compensation for lost job opportunities and accrued pension benefits. The dispute revolves around whether there was a natural buyer for Tencent Holdings Ltd. shares in 2018. Citigroup alleges that Lui misrepresented the trade, while Lui denies deliberate misrepresentation and blames internal control failures. A decision on the case will be handed out on August 27. [Extracted from the article]

Details

Language :
English
Database :
Complementary Index
Journal :
Bloomberg.com
Publication Type :
Periodical
Accession number :
178716793