UK financier Hands drops U.S. lawsuit vs Citigroup over EMI

NEW YORK, March 7 Fri Mar 7, 2014 1:45pm EST

NEW YORK, March 7 (Reuters) - British financier Guy Hands has ended his long-running U.S. lawsuit accusing Citigroup Inc of defrauding him into buying music company EMI Group Ltd , but he retained the right to pursue the case in England.

In a Friday filing with the U.S. district court in Manhattan, Citigroup and Hands' private equity firm, Terra Firma Capital Partners, jointly agreed to the voluntary dismissal of the U.S. case, "without prejudice to plaintiffs' rights to re-file those claims in England."

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