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11/4/2004: Citigroup Liable In WorldCom Worker's Loss While Overseeing Employee Stock Plan (The Washington Post; subscription may be required)
Excerpt: Arbitrators have awarded $75,000 to a longtime WorldCom Inc. employee who argued that bankers contributed to her financial losses by profiting from their relationship with the struggling company and its chief executive at the same time they administered a stock-options program for WorldCom workers. A three-member arbitration panel ruled that Citigroup Inc.'s Salomon Smith Barney unit violated its fiduciary duty to the workers by granting favors to company founder[.]
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