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Citigroup (NYSE:C) sues Barclays (NYSE:BCS) to recover nearly $142M related to foreign exchange...

May 07, 2013 11:48 AM ETCitigroup Inc. (C) StockC, BCSBy: Stephen Alpher, SA News Editor
Citigroup (NYSE:C) sues Barclays (NYSE:BCS) to recover nearly $142M related to foreign exchange trading amidst the Lehman bankruptcy. Citi claims Barclays promised to indemnify Citi against any losses from settling trades for Lehman between Sept. 17-19, 2008. Citi says it lost $580M during this period, but has reduced the amount (plus legal fees) to $141.8M.

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