Citigroup To Face Trial In Suit Over EMI Sale Price

Law360, New York (September 15, 2010, 11:27 AM EDT) -- Citigroup Inc. will have to stand trial in Terra Firma Investments (GP) 2 Ltd.' lawsuit over its alleged overpayment for record company EMI Group Ltd. now that a federal judge has allowed two of the private equity fund's claims to stand on summary judgment.

Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York ruled late Tuesday that the trial would commence on Oct. 18.

In his two-page order Judge Rakoff said that after careful consideration following oral arguments Friday...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.