Nuns, union take on Citibank

Investor's Business Daily

A group of Benedictine nuns in Kansas and a union fund want to break up Citigroup (NYSE:C), saying the bank has underperformed since the '08 financial collapse and is at risk of more regulatory scrutiny and other issues that could jeopardize returns. Trillium Asset Management filed the action for the nuns and AFSCME Employees Pension Plan, the union plan covering state, county and municipal employees. The resolution could be voted on at Citi's spring shareholders meeting. Shares of Citigroup, which has an IBD Composite Rating of 63, an EPS Rating of 12 and a Relative Strength Rating of 92, fell 3.2% to 35.02.

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