Federal Judge Sidney Stein dismissed part of a case brought by European bond investors, who had accused Citigroup and its directors of misrepresenting, or failing to disclose, the bank's exposure to toxic mortgage assets and its own solvency. The judge ruled that the plaintiffs, including Norges Bank and Swiss & Global Asset Management AG, cannot sue Citi under the U.K.'s Misrepresentation Act or the U.K. common law of deceit, because they haven't shown that their purchases relied on Citigroup statements.  Judge Stein further said the Plantiffs' fraud suits cannot move forward under New York's common law because they have not shown actual reliance for misrepresentations and omissions. The judge however said plaintiffs' claims over certain investments can proceed under the U.K. Financial Services and Markets Act, and under the U.S. Securities Act of 1933.   [Reuters, 9/30/11]