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AHW INV. PARTNERSHIP v. CITIGROUP INC.

Nos. 09 MD 2070(SHS), 10 Civ. 9646(SHS).

980 F.Supp.2d 510 (2013)

AHW INVESTMENT PARTNERSHIP, MFS, Inc., and Angela H. Williams as Trustee of the Angela H. Williams Grantor Retained Annuity Trust UAD March 24, 2006, the Angela Williams Grantor Retained Annuity Trust UAD April 17, 2006, the Angela Williams Grantor Retained Annuity Trust UAD May 9, 2006, the Angela Williams Grantor Retained Annuity Trust UAD November 1, 2007, the Angela Williams Grantor Retained Annuity Trust UAD May 1, 2008, the Angela Williams Grantor Retained Annuity Trust UAD July 1, 2008, and the Angela Williams Grantor Retained Annuity Trust UAD November 21, 2008, Plaintiffs, v. CITIGROUP INC., Charles Prince, Vikram Pandit, Robert Rubin, Robert Druskin, Thomas G. Maheras, Michael Stuart Klein, David C. Bushnell and Gary Crittenden, Defendants.

United States District Court, S.D. New York.

October 30, 2013.

Attorney(s) appearing for the Case

Kevin Dugald Galbraith , Daniel Fried , Edward H. Glenn, Jr. , Jacob H. Zamansky , Kevin D. Galbraith , Zamansky & Associates LLC, New York, NY, for Plaintiffs.

Brad Scott Karp , Susanna Michele Buergel , Walter Rieman , Jane Baek O'Brien , Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, for Defendants.

OPINION & ORDER

Table of Contents

  I.  BACKGROUND..................................................................515

 II.  DISCUSSION..................................................................516

      A.  The Claims are Direct, not Derivative...................................516
      B.  New York Substantive Law Governs the Fraud and Negligent
            Misrepresentation Claims........................................

                    
                    
                    

                        

                            

                                
                            

                            

                                

                                    
    
                                        
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