Trial Kicks Off In Terra Firma's Suit Over $6.5B EMI Deal

Law360, New York (October 18, 2010, 7:23 PM EDT) -- A trial began Monday in Terra Firma Investments’ suit accusing Citigroup Inc. of misrepresenting the level of competition the private equity company faced in its $6.5 billion buyout of British music company EMI Group Ltd., with a lawyer for Citi telling jurors that Terra Firma is merely sore over a bad investment.

Citi lawyer Theodore Wells Jr. of Paul Weiss Rifkind Wharton & Garrison LLP told jurors in the U.S. District Court for the Southern District of New York that Terra Firma founder Guy Hands “thought...
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