Legal Opinion
Citigroup Global Markets Inc. v. Abbar
Court of Appeals for the Second Circuit
Decided August 1, 2014No. Docket No. 13-2172PublishedCited by 41 opinions
1Opinion of the Court
DENNIS JACOBS, Circuit Judge:
Ghazi Abbar, a Saudi businessman who managed Abbar family trusts, lost $383 million invested with a United Kingdom affiliate of Citigroup, Inc. He seeks to arbitrate his grievances under the rules of the Financial Industry Regulatory Authority (“FINRA”) against a New York affiliate, which is a FINRA member. The United States District Court for the Southern District of New York (Stanton, J.) permanently enjoined the arbitration on the ground that Abbar is not a “customer” of the New York affiliate.
The Abbar family trusts were administered through two wholly-owned…
2Cases cited10 opinions
- Citigroup Global Markets, Inc. v. VCG Special Opportunities Master Fund Ltd.Court of Appeals for the Second Circuit · 2010
- UBS Financial Services, Inc. v. West Virginia University Hospitals, Inc.Court of Appeals for the Second Circuit · 2011
- Bensadoun v. Jobe-RiatCourt of Appeals for the Second Circuit · 2003
- Fed. Sec. L. Rep. P 98,720 Oppenheimer & Co., Inc. v. Ferdinand A. Neidhardt, and Erich Hoepfer, Stephen Rothchild DesimoneCourt of Appeals for the Second Circuit · 1995
- Wachovia Bank, National Ass'n v. VCG Special Opportunities Master Fund, Ltd.Court of Appeals for the Second Circuit · 2011
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3Cited by41 opinions
- Nicosia v. Amazon.com, Inc.District Court, E.D. New York · 2019
- CRT Capital Group v. SLS Capital, S.A.District Court, S.D. New York · 2014
- Thompson v. Advanced Armament Corp.Court of Appeals for the Second Circuit · 2015
- Dougherty v. VFG, LLCDistrict Court, E.D. Pennsylvania · 2015
- Oppenheimer & Co. Inc. v. MitchellCourt of Appeals for the Ninth Circuit · 2025
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