Citigroup to pay $2 bln in Enron lawsuit - Yahoo! News

Citigroup to pay $2 bln in Enron lawsuit - Yahoo! News: "Fri Jun 10, 2:56 PM ET

NEW YORK (Reuters) - Citigroup Inc. (NYSE:C - news) said on Friday it will pay $2 billion to Enron Corp. investors who accused it of helping the energy trader in a massive accounting fraud, a move that cleans up one of the bank's top legal problems and could pressure others to settle the case.
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The class-action settlement with stock and bond holders is the biggest in the long-running Enron debacle and one of the largest in corporate history, though less than the $2.58 billion Citigroup agreed to pay WorldCom Inc. investors in 2004....

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Two other banks previously reached settlements with Enron investors. Lehman Brothers (NYSE:LEH - news) agreed to a $222.5 million settlement, while Bank of America agreed to pay $69 million."