As he presides over the courtroom battle between the British financier Guy Hands and Citigroup, Judge Jed S. Rakoff entertains with a wry sense of humor, blunt talk and a passion for the legal process.
British financier Guy Hands is engaging in "legal tourism" by pursuing a U.S. lawsuit accusing Citigroup Inc (NYS:C) bankers of defrauding him into overpaying for music company EMI Group Ltd, and his case should be dismissed because it does not belong in the United States, the bank said on Wednesday. Citigroup, the third-largest U.S. bank, sought the dismissal less than six months after the 2nd U.S.
Reuters - A fraud claim by British financier Guy Hands against Citigroup Inc over his $6.4 billion buyout of legendary music company EMI in 2007 went to trial in New York on Monday, the two sides apparently unable to settle their dispute out of court.
One of America's most respected judges recently wrote an insightful and unsettling essay about the many problems with plea bargains, and we spoke to him about why judges almost always sign off on these agreements.