SAN FRANCISCO Superior Court Judge Peter Busch on Friday tossed out a case brought against Citibank by two former Howrey partners who allege that the bank deceived them about their firm’s financial instability.
Plaintiffs Stephen O’Neal and David Buoncristiani filed suit against Citibank several months after Howrey dissolved in 2011, seeking a declaration relieving them of the obligation to repay the money the bank loaned them for their capital contributions. O’Neal and Buoncristiani, who are now at Jones Day, allege in O’Neal v. Citibank, CGC-11-514106, that Citibank assured them of Howrey’s financial health to persuade them to take out the loans, though the bank had reason to believe the firm was in jeopardy. The case preceded one filed against Citibank by a former Dewey & LeBoeuf partner who countersued the bank when it sought to recover the money he borrowed to join the firm.
