Citigroup Wins Dismissal of Antitrust Class Action

On March 25, Skadden secured the dismissal with prejudice of an antitrust class action on behalf of Citigroup, Inc. and three affiliates in the U.S. District Court for the Southern District of New York. The lawsuit alleged a conspiracy among several major banks to restrain trade in the U.S. dollar-denominated market for supranational, sub-sovereign and agency bonds in violation of Section 1 of the Sherman Act.