Citi to settle legacy securities claims, incur $100 mln charge

April 7 Mon Apr 7, 2014 6:16pm EDT

April 7 (Reuters) - Citigroup Inc said it would pay $1.12 billion to settle legacy securities and other claims and incur a related charge of $100 million in the first quarter.

The bank reached the agreement with 18 institutional investors and said the settlement had resolved a significant legacy issue left over from the financial crisis. (Reporting by Avik Das in Bangalore)