Financial Services Litigation & Investigations Group
Financial Services Litigation & Investigations Group
In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.
Citigroup Board Wins Dismissal of Derivative Lawsuit
- Client News
- March 29, 2013
Judge Thomas P. Griesa of the United States District Court for the Southern District of New York issued an order granting our motion to dismiss a shareholder derivative complaint filed against certain current and former members of Citigroup's Board. In the complaint, plaintiff alleged that Citigroup's directors breached their fiduciary duties in connection with Citigroup's processing of mortgage foreclosures, and that Citigroup suffered liability and reputational harm as a result. Judge Griesa dismissed the complaint without prejudice.
The Paul, Weiss team included litigation partners Susanna Buergel, Brad Karp and Richard Rosen.