The message to investors is “Even if we screw you we will continue to fight you tooth and nail.” Citigroup lost the arbitration. Larry Hagman was in the right. Citigroup seems prepared to fight forever even when closure is obvious to everyone.
Citigroup is setting the psychological landscape for future clients. How many wealthy clients at Citigroup are rethinking their relationship.
Can you see Larry Hagman as a poster child spokes person for shareholder and investor rights. You can hear the theme music now.
Disclosure: George Gutowski writes from a caveat emptor perspective. I hold no positions in stocks mentioned in this post.
- Messing With J.R., Take Four (dealbook.nytimes.com)
- Larry Hagman Awarded $11.5 Million in Citi Fraud Payout (nowpublic.com)
- Citigroup Loses Larry Hagman Case, Must Pay More Than $10 Million Over Bad Investments (huffingtonpost.com)
- Citi ordered to pay actor Larry Hagman $11.5 mln (omg.yahoo.com)
- Larry Hagman wins $11 million payout from Citi (marketwatch.com)
- Dallas’s JR Lassos $11.5 Million in Damages from Citigroup (dailyfinance.com)