Citigroup cut its 3rd-quarter results (reported Oct. 14) due to higher legal fees and “‘very recent communications with certain regulatory agencies.'”
“Legal Shadow Falls Over Citi,” Wall Street Journal, October 31, 2014 C8. $6.4 billion in litigation expense already this year. That’s a lot.
Not much detail in the “very recent communications” or “certain regulatory agencies.” Doesn’t uncertainty lead to downside pressure on stock values? How clearly do you communicate with the market?
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