A shareholder has sued Citigroup's (NYSE:C) Chief Executive Vikram Pandit and directors over compensation for the bank's top executives. 

The lawsuit claimed that even though the New York bank's performance did not necessarily warrant it, directors approved more than $54 million in compensation last year to executives, including $15 million to Pandit, Reuters reported Friday. By doing so, directors breached their fiduciary duty, the complaint said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.