Wednesday, November 03, 2010
More Shenanigans As EMI Trial Closes
There were some last-minute fireworks in the EMI lawsuit before the testimonies closed today. The dispute, which centers on Terra Firma's claims that Citigroup was a deceptive advisor during Terra's acquisition of EMI, has already had plenty of personal attacks and questions of character.
Things got even crazier yesterday, when juror Donna Gianell was dismissed after it was revealed that her name appeared in the credits of Michael Moore's Capitalism: A Love Story, which has some anti-Citi footage.
Gianell - all five feet and two inches of her - spoke with the Times, and said that she was actually dismissed because Judge Jed Rakoff thought she was talking to her fellow jurors in the elevator, something she denies. Also, she didn't even know she was credited in the film - her husband works as a Santa Claus and was contacted by the film's producers for an interview, but the footage didn't make the cut.
Meanwhile, Judge Rakoff has rejected Terra Firma's bid for punitive damage, limiting them to $2 billion, and called the case a "cat fight between two rich companies."
Well, make that two rich companies and one rather poor one - at the time of the sale, a Citi employee called EMI a "terribly ill cancer patient."