News & Analysis as of

Class Action › Citigroup

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Carlton Fields

Fifth Circuit Follows Precedent In Upholding Employment Agreement Containing Class Action Waivers

Carlton Fields on

Relying on D.R. Horton Inc. v. NLRB and Murphy Oil, USA v. NRLB, the Fifth Circuit found the NLRB’s decision that Citibank violated the National Labor Relations Act by requiring employees to sign an arbitration agreement...more

Carlton Fields

Cy Pres Standard Dispute Settled With Reasonable Approximation

Carlton Fields on

The District Court for the Southern District of New York recently addressed whether the “next best” or “reasonable approximation” standard should apply when the court evaluates proposed cy pres designations in class action...more

Orrick - Finance 20/20

Citigroup, Goldman, and UBS to Pay $235 Million Settlement in MBS Class Action

Orrick - Finance 20/20 on

On February 13, 2015, the plaintiffs in New Jersey Carpenters Health Fund, et al., v. Residential Capital, LLC, et al., No. 08-cv-8781 (S.D.N.Y.) filed an unopposed motion for certification of the class and to approve a...more

Butler Snow LLP

Sixth Circuit: No Arbitration of Pending Claims

Butler Snow LLP on

In a reversal from a streak of previous decisions in favor of arbitration, the Sixth Circuit in Russell v. Citigroup, Inc., No. 13-5994, — F.3d — (6th Cir. 2014), recently declined to hold that an agreement to arbitrate “all...more

BakerHostetler

Russell v. Citigroup Inc. – Language in Revised Arbitration Agreement Torpedoes its Application to Pending Class Action

BakerHostetler on

A Sixth Circuit panel found the text of an updated arbitration agreement indicated it did not apply to a wage and hour class action already pending when the agreement was signed. Russell v. Citigroup, Inc., Case No. 13-5994...more

Orrick - Finance 20/20

RMBS Class Action Against Deutsche Bank Dismissed

Orrick - Finance 20/20 on

On December 18, Deutsche Bank was dismissed from an RMBS action brought by the New Jersey Carpenters Health Fund regarding certificates backed by RALI and HarborView trusts. Judge Harold Baer of the United States District...more

Orrick - Employment Law and Litigation

A Welcome ‘Waive’ of Second Circuit Cases: Class Action Waivers Deemed Enforceable

Orrick - Employment Law and Litigation on

For the better part of the last decade, the Second Circuit routinely and consistently struck down class action waivers in arbitration provisions....more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Holds That The Fair Labor Standards Act Does Not Bar The Enforcement of Class Action Waivers

Sheppard Mullin Richter & Hampton LLP on

Over the past week, the United States Court of Appeals for the Second Circuit (“Second Circuit”) has issued two decisions in which it affirmatively held that: (i) a plaintiff cannot use the “effective vindication doctrine” to...more

Orrick - Finance 20/20

Citigroup Settles RMBS Class Action Lawsuit for Nearly $25 Million

Orrick - Finance 20/20 on

On August 27, lead plaintiffs City of Ann Arbor Employees’ Retirement System and Greater Kansas City Laborers Pension Fund submitted an unopposed motion seeking preliminary approval of a settlement of claims against certain...more

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