Citi fires Internet analysts, pays $2 million fine
Earlier today, Massachusetts fined Citigroup Global Markets $2 million for illegally disclosing nonpublic information. In the aftermath of the report, Citi was reported to have fired Internet analyst Mark Mahaney. Also, I can confirm that Mahaney is no longer with the firm.
Citigroup also fired an unnamed junior analyst reporting to Mahaney last month. The state’s investigation did not implicate Mahaney in the leaks.
The report, issued today by William Galvin, Secretary of Massachusetts, does not mention Mahaney by name. It instead refers to a “senior research analyst at the company who…
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