Citigroup (C) agrees to pay $360M to Lehman Brothers' brokerage estate to settle a dispute over...

|About: Citigroup Inc. (C)|By:, SA News Editor

Citigroup (C) agrees to pay $360M to Lehman Brothers' brokerage estate to settle a dispute over $1B in collateral that Citi forced Lehman to post in the days prior to its collapse in 2008. Citi will also give up a claim to $75M it paid the estate at the start of its liquidation. Separately, Citigroup reportedly intends to cut 300 sales and trading jobs around the world by the end of 2012.