Citicorp settled a civil lawsuit by the SEC for $75 million,which was less than 3% of its quarterly net income.Citicorp chose to settle,a state of certainty rather than go to trial with a state of uncertainty.

Question

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The statement correctly states that Citicorp settled a civil lawsuit with the SEC for $75 million, which was less than 3% of its quarterly net income. It also correctly states that Citicorp chose to settle, which would provide a state of certainty rather than go to trial with a state of uncertainty.

Citicorp Settled a Civil Lawsuit by the SEC for $75