ACHIEVEMENTS

CASE
SUCCESSES

Citigroup: Exposure to toxic mortgage assets leads to $730 million recovery

Represented the Miami Beach Employees’ Retirement Plan, the City of Tallahassee Pension Plan, the Philadelphia Public Employees Retirement System and the Southeastern Pennsylvania Transportation Authority Pension Fund in pursuing claims against Citigroup for concealing its exposure to subprime mortgage debt—exposure that, once revealed, led to massive investment losses during the 2008 financial crisis. 

Investors’ claims resulted in a historic settlement of $730 million, the second largest recovery ever under Section 11 of the Securities Act.   

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