August 09, 2016
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.
July 22, 2014
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.
August 27, 2013
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.
August 15, 2013
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.
August 02, 2013
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.
April 08, 2013
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.
April 02, 2013
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.
March 26, 2013
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.
March 18, 2013
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.
March 01, 2013
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.