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In Re: Citigroup Inc. Securities Litigation

  1. August 09, 2016

    3 Nonprofits Can Get $590M Citigroup Deal Leftovers

    A New York federal judge on Tuesday affirmed his previous decision that the remaining portion of a $590 million securities class action settlement with Citigroup Inc. should be distributed to three nonprofit advocacy groups, saying the groups reflect the purpose of the suit.

  2. July 22, 2014

    Citigroup Safe From FINRA Arbitration After $590M Settlement

    A New York federal judge ruled Tuesday that Citigroup Inc. is not subject to a Financial Industry Regulatory Authority arbitration over claims its stock plummeted after it concealed securitized-loan losses, saying the arbitration would violate an existing $590 million federal court settlement over the claims.

  3. August 27, 2013

    Objectors' Atty Fee Bid Nixed In Citi Investors' $590M MBS Suit

    A New York federal judge Tuesday denied Wolf Haldenstein Adler Freeman & Herz LLP's request for $2 million in attorneys' fees for representing objectors in a $590 million class action targeting Citigroup Inc. over alleged lies about its exposure to toxic mortgage-backed securities.

  4. August 15, 2013

    Citi Investors In $590M MBS Suit Rip Subclass' Fee Bid

    The lead counsel for investors in a $590 million class action targeting Citigroup Inc. over alleged lies about its exposure to toxic mortgage-backed securities on Wednesday blasted a $2 million request for attorneys' fees from counsel for in-house investors, saying the amount is clearly excessive.

  5. August 02, 2013

    Billable Hour Critics Cheer Legal Fee Cut In Citigroup Case

    A federal judge's decision to chop more than $25 million from a plaintiffs' fee request in a $590 million shareholder settlement with Citigroup Inc. drew cheers from corporate-side legal value advocates Friday, though some said the judge's focus on how the bill was pumped up missed an important lesson about the poor incentives created by mark-ups and the billable hour.

  6. April 08, 2013

    $100M Kirby McInerney Fee Bid In Citi Case Meets Skepticism

    A New York federal judge on Monday pointedly questioned Kirby McInerney LLP lawyers about the firm's nearly $100 million fee request in a massive class action securities settlement with Citigroup Inc., grilling them about markups for contract attorneys and about the millions in billable hours it racked up.

  7. April 02, 2013

    $590M Citi Settlement Draws Skepticism From Judge

    A New York federal judge on Monday raised questions about Citigroup Inc.'s proposed $590 million securities class action settlement, indicating that he might become the latest federal judge to block a multimillion-dollar no-admit, no-deny deal involving a major bank.

  8. March 26, 2013

    Kirby McInerney Defends $100M Fee Request In Citi Case

    Plaintiffs firm Kirby McInerney LLP, which won a landmark $590 million settlement in a securities class action against Citigroup Inc., said Monday that an objector to its $100 million fee request "swings and misses" in his allegations that it engaged in flagrant hour padding.

  9. March 18, 2013

    In-House Attys Fire New Salvo In Battle Over Law Firm Fees

    The nation's largest association representing in-house counsel — a vocal advocate for driving down law firm bills — has for the first time jumped into an ongoing legal fee battle, lobbying a federal judge overseeing a securities class action against Citigroup Inc. to reject the plaintiff lawyers' $100 million fee request.

  10. March 01, 2013

    $100M In Attys' Fees Scrutinized In Citi CDO Deal

    A New York federal judge Friday ordered Kirby McInerney LLP to release information about the contract attorneys it used in securing a $590 million class action settlement arising from Citigroup Inc.'s allegedly faulty collateralized debt obligations, after an objector claimed the firm was charging class members exorbitant legal fees.

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