Financial Services Litigation & Investigations Group
Financial Services Litigation & Investigations Group
In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.
Citigroup Prevails on Appeal Before the Ninth Circuit
- Client News
- February 22, 2016
Paul, Weiss obtained a victory for CitiMortgage Inc. when the U.S. Court of Appeals for the Ninth Circuit affirmed the District Court's dismissal of the qui tam claim filed by relators under the False Claims Act (FCA). CitiMortgage argued that the claims should be dismissed because the FCA prohibits making false statements to an "officer, employee or agent" of the United States, and the alleged recipients here, Fannie Mae and Freddie Mac, are not agents of the U.S. The Ninth Circuit agreed, concluding that "Fannie Mae and Freddie Mac are private companies, albeit companies sponsored or chartered by the federal government."
The Paul, Weiss team included former litigation partner Maria Vullo.