Citigroup Will Not Get Back $500 Million Accidentally Wired to Revlon Lenders, Judge Rules
Citigroup (NYSE: C) made a huge error last year when it accidentally wired $900 million to several lenders of the cosmetics brand Revlon.
Now, it's really going to have to pay for that mistake.
A U.S. district court in New York recently ruled that 10 asset managers will not have to return more than $500 million they received from Citigroup by mistake, according to Bloomberg.
Source Fool.com
