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Citigroup and Lehman Settle $1.2 Billion Dispute

May 15 (Bloomberg) -- A federal judge approved a settlement between Citigroup Inc. and defunct Lehman Brothers Holdings Inc. over disputed amounts owed on foreign-exchange trades. Citigroup was granted a right to a $1.2 billion priority claim while paying Lehman $167 million, according to an order signed yesterday in federal court in Manhattan. Larger sums remain in dispute, the parties said in the document.

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To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Stephen Farr at sfarr@bloomberg.net

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