Citigroup Entangled in €59 Million Legal Battle Over Failed Property IPO
London, U.K. – Banking giant Citigroup is currently embroiled in a significant legal challenge as they face a €59 million lawsuit over a failed property initial public offering (IPO). The lawsuit has been filed by Anangu Trading, a Spanish investment group, which alleges that Citigroup engaged in negligent behavior, leading to substantial financial losses. The legal confrontation traces back to 2007 when Citigroup was supposed to manage an IPO for a property fund composed of a high-value real estate portfolio, owned by Anangu Trading. The planned offering was aimed at raising substantial capital by listing … Read more