Thomson ReutersWindow washers work above a logo of Citibank in downtown Buenos AiresNEW YORK (Reuters) – Citigroup Inc has settled long-running litigation in which Allied Irish Banks Plc accused it of helping rogue currency trader John Rusnak rack up a $691 million loss.
An order announcing the dismissal of the 12-1/2-year-old case was filed on Thursday with the U.S. District Court in Manhattan.
The dismissal averts a trial that had been scheduled to begin on Jan. 25. Citigroup also resolved related claims against Buffalo, New York-based M&T Bank Corp .
(Reporting by Jonathan Stempel in New York)
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