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Citigroup Settles WorldCom Investor Lawsuit

Citigroup Inc. took two very expensive steps toward resolving some very embarrassing relationships.

> > Citigroup, the largest financial institution in the world said it will pay $2.65 billion ($1.64 billion after tax) to settle a class-action lawsuit filed by investors in WorldCom Inc., which filed for bankruptcy after admitting to the largest accounting fraud in history.
Source: CFO


Published:2004-05-11
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