Larry Hagman, Citigroup Resolve Arbitration Claim

Citigroup had $11.6M award vacated

Larry Hagman has settled his arbitration claim against Citigroup, the New York Times reports.

The "Dallas" star and two individual retirement accounts in his name filed the claim in 2009. Hagman alleged breach of contract, fraud by misrepresentation and failure to supervise, among other claims. The case involved unspecified securities with Citigroup and a life insurance policy.

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Hagman won $11.6 million, which the Times said was the largest arbitration award given to an individual in 2010.

Citigroup then had the award vacated, in part because one of the arbitrators was a plaintiff in a similar type of case and did not disclose it. The two sides them negotiated, finally coming to a deal.

Hagman's lawyers asked on Friday that the case be dismissed.

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