Wells Fargo To Pay Citi $100M To Settle Wachovia Fight

Law360 (November 19, 2010, 12:24 PM EST) -- Wells Fargo & Co. has agreed to pay $100 million to Citigroup Inc. to settle all claims related to its $15 billion acquisition of Wachovia Corp. in October 2008, the companies said Friday.

The settlement will bring to a close a pair of lawsuits pending over the deal in the Supreme Court of the State of New York, New York County, and the U.S. District Court for the Southern District of New York.

Citigroup had been seeking as much as $80 billion in damages over claims that Wells Fargo had interfered in its own deal for Wachovia when it swooped in...

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