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, Jesse W. Stevenson, Mimi Le and Brittany Peters closely supported the litigation team by providing invaluable litigation graphics and trial technology consulting and support throughout the arbitration.
Citigroup, Inc. v. Abu Dhabi Investment Authority, United States Court of Appeals, Second Circuit.