Lehman Suing Citigroup For $1.3 Billion (C)

The trustee who is overseeing the liquidation of Lehman Brothers Holdings' broker dealer has sued Citigroup C in order to get back more than $1.3 billion n cash and assets, according to Reuters.

Included in the assets are a $1 billion deposit Citigroup wanted to continue providing foreign exchange settlement services, and over $300 million in additional deposits.

Citigroup called the claims "unjustified and without merit" and said it will vigorously defend its right to recover its losses.