Citigroup, Citigroup Global Markets, JP Morgan Securities, JPMorgan Chase and Goldman Sachs Win Motion to Dismiss Antitrust Action

Cleary Gottlieb won dismissal in New York Supreme Court of an antitrust action brought against clients Citigroup, Citigroup Global Markets, JP Morgan Securities, JPMorgan Chase and Goldman Sachs. The court rejected the Donnelly Act claim of plaintiff, a structured finance lawyer claiming the banks had colluded to block the use of her “structure” for airport facility bonds. The court held that plaintiff lacked antitrust standing and failed to allege antitrust injury under the Donnelly Act, and that she otherwise failed to plead common law tortious interference claims. This dismissal followed the federal court’s dismissal with prejudice of plaintiff’s federal antitrust claims.