Citi (C) Disputes Allegations Pandit Violated Sarbanes-Oxley

FBN’s Charlie Gasparino reports that Citigroup (C) is defending CEO Vikram Pandit amid accusations by analyst Mike Mayo that Pandit violated Sarbanes-Oxley in 2008. Citigroup lawyers argue that the Office of the Comptroller of the Currency (OCC) “never cited ‘material weakness’ in terms of Citigroup’s accounting” and thus, Pandit was not required to “disclose problems” [...]