Citigroup obtains win in Ninth Circuit cross-appeals
Clients Citigroup Inc.
Jones Day represented Citigroup Inc. in Ninth Circuit cross-appeals involving Salvador Villar, the former CEO of an affiliated bank, who was fired after an FDIC investigation revealed he engaged in misconduct. Villar, who was banned by the FDIC from further involvement in the banking industry, filed suit in Mexico against a Citigroup subsidiary operating there, and obtained an order that he be reinstated and paid over $1 million in monetary relief. Citigroup filed suit in federal district court in California and obtained a preliminary injunction against enforcement of the Mexican order. Villar appealed that injunction to the Ninth Circuit, which affirmed the district court decision. The firm, on behalf of Citigroup, cross-appealed the district court's failure to grant Citigroup's request for a broader injunction, and the Ninth Circuit vacated that decision and remanded for consideration of Citigroup's request.
Citigroup Inc., et al v. Salvador Villar, 20-55313 516 (9th Cir. 2020)