Lawyers at Quinn Emanuel Urquhart & Sullivan struck out Wednesday in their latest attempt to revive a $4 billion arbitration claim against Citigroup on behalf of Abu Dhabi’s sovereign wealth fund. The U.S. Court of Appeals for the Second Circuit affirmed a previous loss for the Abu Dhabi Investment Authority (ADIA) in the case, which stems from a 2007 investment deal gone sour.
The ruling is a victory for a team from Paul, Weiss, Rifkind, Wharton & Garrison including chairman Brad Karp and partner Leslie Gordon Fagen. Fagen argued for Citi at the Second Circuit earlier this month.
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