Highland Drops Citigroup CLO Suit Over Manager Role

Law360, New York (June 29, 2012, 4:10 PM EDT) -- Highland Capital Management LP on Thursday gave up its Texas suit accusing Citigroup Global Markets Inc. of interfering with a contract between Highland and a collateralized loan obligation issuer by trying, ultimately unsuccessfully, to remove it as manager of the CLO portfolio.

Highland's notice dismissing the case against Citigroup, Babson Capital Management LLC and Bank of New York Mellon Trust Co. without prejudice gave no reason for the end of the suit, but a motion to dismiss filed the same day by Citigroup noted that recent...
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