RUMOR MILL
Back to Rumor Mill >
Friday, June 10, 2016

GUY HANDS DROPS EMI SUIT

Guy Hands has dropped his lawsuit with Citigroup. Three days into a trial in which Hands sought the return of his 2007 investment in EMI, the private equity tycoon decided his company could not prove its case.

"(It) become evident that our documentation of the fast-moving and complex events, and memories of these events after nine years, are no longer sufficient to meet the high demands of proof required for a fraud claim in court," the Terra Firma founder said. "The matter is now closed. Terra Firma is looking to the future.”

Hands had sought damages of £1.5bn alleging that the U.S. investment bank misled him during negotiations to buy the music company. Terra Firma will also pay all of Citi’s costs.

 
BACK TO RUMOR MILL
 
HITS LIST BLASTS OFF
Space is the place for Tay. (4/26a)
Check It Out Now
SONG STREAMS: SWIFT SETS STREAMING RECORD
What did you expect? (4/26a)
Check It Out Now
SPRING BREAKOUTS: THESE HEATERS ARE STILL HOT
Who's Boomin who. (4/26a)
Check It Out Now
SONG REVENUE: “SWEET” SMELLS OF SUCCESS
Life after "Church" (4/26a)
Check It Out Now
STAGECOACH: SETS TO SEE AND PLACES TO BE
Saddle up, cowboys and cowgirls. (4/26a)
Check It Out Now
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions