Law Firms

Judge axes ex-partners' suit saying Citibank misled them about Howrey finances when making loans

A California judge has dismissed a lawsuit by two former Howrey partners who contended that Citibank misled them and should have disclosed more to them about their own law firm’s dismal financial situation before they took out loans to make capital contributions.

Judge Peter Busch on Friday declined to give ex-partners David Buoncristiani and Stephen O’Neal the declaratory judgment they sought in the San Francisco Superior Court case, the Recorder (reg. req.) reports.

However, a federal judge in New York, at last report, had cast a more favorable eye on a similar lawsuit making similar claims against Citibank by a former partner of Dewey & LeBoeuf, as detailed in an earlier post.

Additional and related coverage: “Ex-Partners’ Suit Says Citibank Urged Personal Loans as Howrey Overspent Line by ‘Incredible’ $23M” “Ex-Dewey partner’s fraud claim re Citibank capital loan gets green light from federal judge”

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