Munger Tolles Secures Dismissal of $11.5 Million Arbitration Award 

For client Citigroup Inc., Munger, Tolles & Olson secured the dismissal of an $11.5 million arbitration award to actor Larry Hagman, who played J.R. Ewing on the hit TV show “Dallas.” California Superior Court Judge Michelle Rosenblatt dismissed the FINRA award February 9, on the grounds that one of the arbitrators did not disclose a conflict prior to his adjudicating the matter.   

Hagman accused Citi, in May 2009, of breach of fiduciary duty and breach of contract related to securities held in Citi accounts, as well as the purchase of a life insurance policy. The Munger Tolles lawyers representing Citigroup include partners Tammy Godley, Paul Watford, Cary Lerman and Marc Dworsky.