Citigroup to Pay $2 Billion in Enron Suit

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Citigroup Inc. said on Friday it will pay $2 billion to Enron Corp. shareholders who accused it of helping the energy trader in a massive accounting fraud, a move that further cleans up the bank’s legal record and could pressure others to settle the case.


The class-action settlement is the biggest in the long-running Enron debacle and one of the largest in corporate history, though less than the $2.58 billion Citigroup agreed to pay WorldCom Inc. investors in 2004.


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