Former Salomon Smith Barney Brokers Refuse to Say 'So Long' to Invested Compensation

In the old days, way back in 1992, Smith Barney brokers saw it as a big plus to be able to purchase stock in their parent company, then called Primerica.

Last Friday, though, three former Salomon Smith Barney stockbrokers in New Jersey filed a lawsuit to reclaim compensation left in the company's stock purchase plan, the third set of such claims brought against the firm, now a Citigroup (C Quote) unit.

In the suit, which seeks class-action status from New Jersey Superior Court in Essex, the former brokers argue that they shouldn't have to forfeit money used to purchase the company's stock because it was originally compensation. ...