04 Nov Citigroup Prevails in Lawsuit over EMI Deal

NEW YORK, NY – In a stinging blow to British financier Guy Hands, a federal jury has cleared Citigroup of any wrongdoing related to its role in the sale of EMI Group. Mr. Hands sought $8 billion plus punitive damages; however, after only a few hours of deliberations the jury awarded him nothing.

Citigroup’s trial team was led by partners Theodore V. Wells, Jr., John Baughman and Jay Cohen (Paul Weiss). Impact Trial’s Jesse W. Stevenson, Bill Weir, Kara Lyon, Michael Grossklaus, and Thomas S.Y. Lee worked closely with defense lawyers to provide invaluable trial technology and litigation graphics consulting and support throughout the trial.

The case is Terra Firma Investments (GP) 2 Ltd., et al. v. Citigroup, Inc., et al., case number 1:09-CV-10459, in the US District Court for the Southern District of New York.