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Citigroup Board Wins Dismissal of Derivative Lawsuit

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.

March 29, 2013

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