Citigroup agrees $730M settlement with investors

Mar 18, 2013, 11:57 PM EDT
A 'Citi' sign is displayed near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
Getty Images/Mario Tama

Citigroup will pay $730 million to settle claims that it misled investors in its bonds and preferred stock over its exposure to subprime mortgages. It is the second-biggest class action payout related to the financial crisis. In August 2012, Citi struck a $590 million settlement with shareholders.