British financier Guy Hands has ended his long-running U.S. lawsuit accusing Citigroup Inc of defrauding him into buying music company EMI Group Ltd but plans to keep pursuing the case in England.Citigroup and Hands' private equity firm, Terra Firma Capital Partners, agreed to the dismissal of all claims in the U.S. case, "without prejudice to plaintiffs' rights to re-file those claims in England," according to a Friday court filing.The filing ends more than four years of U.S. litigation over Terra Firma's 4 billion pound (US$6.7 billion) purchase in 2007 of EMI, whose catalog has included artists like the Beatles, David Bowie, Coldplay, Katy Perry, Pink Floyd and Snoop Dogg."Terra Firma and Citigroup have together decided that their disputes should be resolved in one set of proceedings," the parties said in a joint statement. "The parties have consented to the transfer of the claim before the New York court to England, to be consolidated with the proceedings that are ongoing before the English court."
Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C fell by 0.21% or $-0.1063/share to $49.60. In the past year, the shares have traded as low as $41.60 and as high as $55.28. On average, 26174800 shares of C exchange hands on a given day and today's volume is recorded at 20760920.
Terra Firma Capital Corporation (Terra Firma) is a real estate finance company that provides customized equity and debt solutions to the real estate industry. Shares of TII traded higher by 11.11% or $0.05/share to $0.50. In the past year, the shares have traded as low as $0.20 and as high as $0.55. On average, 14472 shares of TII.V exchange hands on a given day and today's volume is recorded at 12325.
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