Citigroup Fires Analyst, Pays $2 Million Fine Over Facebook IPO Leak

October 26, 2012 3:44 PM
Citigroup Fires Analyst, Pays $2 Million Fine Over Facebook IPO Leak
" NEW YORK (AP) รข?? The junior Citigroup expert was searching Facebook before it went down public.He moved an electronic communication to two of hiseconds friendseconds at a popular with application blog, bringing out them mesecondssecondsage about Citigroup’seconds resecondsearch that waseconds secondsupposecondsed to be private.

When one individual intercommunicate if it was fine to print the information, the expert moved with an statement that demo he cognize he was ending the rules: “My boss,” he crtake ined verbally back, “would take in me alive.”

Friday, Massachusetts’ topmost safeties controller pulled the happening into the spotlight, slapping Citigroup with a permission dictation and bearing down the financial organization $2 million for neglecting to manage its employee.

“This penalty,” stated Massachusetts Secretary of the Commonwealth William Galvin, “should do as a informing to the commercial enterprise at large.”

Citi secondshot the tender invesecondstigating expert about a calendar month ago, after Galvin’seconds business establishment had secondset about itseconds invesecondstigation.The causa was unaccustomed examined to another new suits and mulcts against leading banks, because Citigroup held that the circumstances under consideration made pass off "

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