11 Nov Citi Prevails in Arbitration Over Fraudulent Investment Claims

NEW YORK, NY – Citi has successfully defended against fraud claims brought by the Abu Dhabi Sovereign Wealth Fund related to a $7.5 billion investment made by the Middle East entity. Citi announced its victory in its quarterly filings.

The Citi defense team was led by partners Brad Karp, Les Fagen, Jay Cohen, Bruce Birenboim, Dan Toal and Susanna Buergel (Paul Weiss). Impact Trial’s Thomas S.Y. Lee and Jesse W. Stevenson closely supported the litigation team by providing invaluable litigation graphics and trial technology consulting and support throughout the arbitration.

The case is Citigroup, Inc. v. Abu Dhabi Investment Authority, in the United States Court of Appeals for the  Second Circuit.