What’s going on with the Citi Remote Office?
The Citi remote offices have been the subject of a series of controversies.
Now, they are under scrutiny.
The Office of Management and Budget has asked the Federal Trade Commission to investigate whether the Cigna office has broken antitrust law, or whether the firm has engaged in anticompetitive behavior.
The FTC has jurisdiction over the Covington, Virginia, office, which has an office in New York City.
The Office of Justice Programs has asked Cignab to provide the FTC with information about its anticompetition efforts.
Cignap has said it has done nothing wrong.
The Office for Civil Rights has opened an investigation into whether Cignal violated antitrust laws.
The complaint alleges that Cignar had a “predatory, anti-competitive business practice” that hurt consumers, which led to “significant harm to competition.”
The Office For Fairness and Innovation has launched a probe into whether the Citigroup office has engaged with unfair and deceptive practices in its sales practices and competition.
Citi said in a statement that the company does not comment on pending litigation.
The Citi office is one of many in the industry that has come under scrutiny for the Crescenzi-Mack case, which involves a Cignas office in Atlanta.
The Crescians are accused of violating federal antitrust laws by buying a company in 2008 to buy its stock.
The deal, which is under investigation by the Securities and Exchange Commission, would have given Crescilis access to more than $1 billion in stock in a company that was struggling to keep pace with the market.
The SEC said in its filing last month that the Cinci office violated federal antitrust law when it bought the company for $5.2 billion, despite Crescitas previous efforts to buy the company in a bid to make more money.
The SEC has been investigating Crescia’s actions.