Italian investment fund F2i SGR is suing U.S. bank Citigroup Inc (C.N) for damages over the unsuccessful placement of an infrastructure fund in 2007. The lawsuit filed in a Milan court says Citigroup marketed its own infrastructure fund after being hired by F2i to promote a similar investment three years ago. F2i hired Citigroup in March 2007 for the placement of a 15-year fund. The bank did not find any investors during the 18-month contract. Citigroup denied any wrongdoing and said in a statement it would "vigorously defend" itself.

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Posted by mopeng at May 7, 2010 10:15 PM