Citigroup Suit By British PE Mogul Revived By 2nd Circ.

Law360, New York (May 31, 2013, 1:27 PM EDT) -- The Second Circuit has revived a fraudulent misrepresentation suit by British private equity mogul Guy Hands against Citigroup Inc. over Hands' takeover of music company EMI Group Ltd., throwing out a 2010 jury verdict Friday because a New York federal judge improperly instructed the jury on English law.

Citi had successfully defended against allegations that it lied to Hands during an auction process for EMI to drive up the selling price for the music group because it was advising both EMI and potential acquirers, including Hands'...
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