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The Boston Globe

Business

Citigroup to pay state $30m over analyst leak

Citigroup Global Markets Inc. will pay $30 million to Massachusetts to settle charges a company analyst improperly shared research with large investors in advance, giving them the chance to profit from weaker sales of iPhones. The information was not shared with other investors until a day later.

The settlement is one of the largest by Secretary of State William F. Galvin’s securities division and the second case in two years involving New York-based Citigroup. It’s the latest example of Galvin’s aggressive policing of the investment industry.

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