Citigroup Inc. has won a $900 million case having to with the company allegedly issuing flawed research that caused investor Donald Sturm to lose money, with an NASD arbitration panel ruling in Citigroup's favor, Reuters reports.

On the highly positive recommendations of Citigroup analyst Jack Grubman, Sturm held onto 21 million WorldCom shares, but Citigroup argued that Sturm was a knowledgeable investor responsible for his own actions.

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