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Wells Fargo Settles With Citi On The 2008 Wachovia Acquisition

Sunday, November 21, 2010 - 9:27 AM
Just a few days after WaMu failed and was acquired by Chase in 2008, the FDIC announced it was assisting in Citgroup's acquisition of Wachovia. A few days after that, Wells Fargo announced that it would acquire Wachovia. Citigroup wasn't too happy about this. After over two years of lawsuits, Citigroup and Wells Fargo have finally reached a settlement according to this Reuters article:
Wells Fargo & Co (WFC.N) will pay Citigroup Inc (C.N) $100 million to settle multiple lawsuits over the contentious 2008 purchase of Wachovia Corp, closing another chapter in the receding financial crisis.

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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
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