Citigroup Racial Bias Case to be Arbitrated

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00020085-citigroup-racial-bias-case-to-be-arbitrat/

By Jonathan Stempel, Reuters

A former Citigroup Inc. executive of Indian descent who sued the largest U.S. bank for discrimination has lost his bid to have his case tried in a federal court, and instead will have his claims arbitrated.

Ramesh Menon, a former Citigroup managing director and head of U.S. structured products, had sought at least $138 million in damages against the New York-based company when he filed his federal lawsuit in Manhattan last October.

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