Larry Hagman Lassoes $12M From Citi
Larry Hagman, the actor who played Texas oilman J.R. Ewing in the popular 1980’s TV series Dallas won $12 million in an arbitration case against Citigroup on Wednesday.
The ruling by a Financial Industry Regulatory Authority arbitration panel requires Citigroup to pay $1.1 million in compensatory damages to Hagman, punitive damages of $10 million to charities the actor will choose, and $440,000 in attorney’s fees.
In a May 29 claim, Hagman accused Citigroup of a breach of fiduciary duty, fraud by misrepresentation and omission, and other violations related to “unspecified securities,” and a life insurance policy.
“We are disappointed and disagree with the panel’s finding and we are reviewing our options,” wrote Citigroup spokesman Alexander Samuelson in an emailed statement.
In addition to his Dallas fame, Hagman played the astronaut Major Anthony Nelson on the 1960’s hit I Dream of Jeannie.
A call to Hagman’s attorney, Philip Aidikoff, was not immediately returned.