Sturm v. Citigroup

NASD Arbitration Panel Rejects All Claims Against Citigroup and Salomon Smith Barney

December 8, 2005

DENVER, CO – A three-member NASD arbitration panel denied $900 million in fraud and breach of fiduciary duty claims brought by Donald Sturm against Citigroup and Salomon Smith Barney. This ruling marked the second largest arbitration ever for the National Association of Securities Dealers.

Partners Jeh C. Johnson, Daniel J. Toal and Andrew J. Ehrlich (Paul Weiss) represented both Citigroup and Salomon Smith Barney during arbitration. Impact Trial’s Bill Weir provided trial presentation and technical assistance throughout the proceedings.

The case is Donald Sturm v. Citigroup, Inc. and Salomon Smith Barney, NASD Arbitration, Denver, CO.