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Citigroup says rumors of trading error untrue

The final numbers of the day's trading is shown on a board on the floor of the New York Stock Exchange in New York, May 6, 2010. REUTERS/Lucas Jackson

The final numbers of the day's trading is shown on a board on the floor of the New York Stock Exchange in New York, May 6, 2010.

Credit: Reuters/Lucas Jackson

NEW YORK | Fri May 7, 2010 10:21am EDT

NEW YORK (Reuters) - Citigroup Inc (C.N) said there was no basis for rumors that it was responsible for a massive trading error that caused the markets to plunge on Thursday.

Citi had been conducting an investigation into the rumors on Thursday, but said on Friday morning that its investigation had determined that the rumors were false.

"Based on our review, rumors about a trading error by Citi are unfounded. It is troubling that inaccurate and unfounded rumors were spread as far as they were," Citi spokeswoman Shannon Bell said in an email.

(Reporting by Maria Aspan, editing by Gerald E. McCormick)

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Comments (2)
harvey41 wrote:
We should have let them go under!!!!!!

May 07, 2010 2:32pm EDT  --  Report as abuse
paintcan wrote:
Are you willing to go with them?

May 08, 2010 10:41am EDT  --  Report as abuse
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