Bloomberg reports that Citigroup chief executive Sandy Weill has agreed to be questionned by US investigators in connection with Salomon Smith Barney's stock research practices.
New York state attorney general Eliot Spitzer apparently wants to question Weill about new evidence which has come to light in connection with Salomon's ratings of AT&T. Weill has hired Marty Lipton, founding partner of top Wall Street law firm Wachtell, Lipton, Rosen & Katz to represent him.
Weill has denounced the 'outrageous speculation' that he may well be charged in connection with the AT&T probe and Lipton himself has said that 'the notion that there could be any charge against Sandy Weill is inconceivable.'
The Citigroup boss resigned from the AT&T board earlier this month to avoid any appearance of potential conflict of interest.