From the NY Post: Private equity honcho Guy Hands has won an $8 billion do-over. A
appeals court yesterday overturned a 3-year-old jury verdict against Hands in
his bitter battle with Citigroup over his disastrous buyout of UK
record label EMI in 2007. The 2nd
Circuit Court of Appeals awarded Hands’ Terra Firma a new trial after finding
that Judge Jed Rakoff misinterpreted the law in his instructions to the jury.
Hands — who claimed Citi banker David Wormsley duped him into overbidding for the ailing music company — was pleased with the outcome of the appeal, according to sources…
Read al about it at http://www.nypost.com/p/news/business/winning_hands_ucKh8VZXKuHmditN91an9O