The claim of a British private equity investment firm that Citigroup Inc. duped it into making a disastrous bid for the record company EMI Group has been revived after a panel found that Southern District Judge Jed Rakoff had incorrectly instructed the jury on relevant U.K. law.
June 04, 2013 at 12:00 AM
1 minute read
The claim of a British private equity investment firm that Citigroup Inc. duped it into making a disastrous bid for the record company EMI Group has been revived.
In a 10-page order issued on May 31, the U.S. Court of Appeals for the Second Circuit vacated a 2010 verdict and ordered a new trial, finding that Southern District Judge Jed Rakoff had incorrectly instructed the jury on relevant U.K. law.
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