Citigroup Global Markets Inc. says it has settled a defamation lawsuit over statements made by one of its analysts about the TrizecHahn restructuring in August 2002.

Citigroup had been sued by Peter Munk, Trizec Properties and Trizec Canada Inc.

“Citigroup Global Markets apologizes for any embarrassment that the statements may have caused Mr. Munk and the Trizec companies, and has agreed to make a generous donation to the Peter Munk Cardiac Centre at the Toronto General Hospital,” Trizec said in a release today.

The lawsuit stemmed from comments made by analyst Jonathan Litt during a conference call in the summer of 2002 and some research notes about Trizec Properties’ share structure and governance.

The lawsuit, filed almost a year after the conference call, claimed that the comments made by Litt damaged Munk’s reputation.

Trizec Canada and Trizec Properties were spun off from TrizecHahn in 2003. Munk controls Trizec Canada and Trizec Properties, its Chicago-based real estate arm, through multiple-voting shares.