N.Y. Federal Judge Confirms $4 Billion Award Issued to Citigroup in Investment Dispute

NEW YORK — A New York federal judge has confirmed a $4 billion arbitration award issued in favor of Citigroup Inc. in an investment dispute, finding the arbitral tribunal did not deny Abu Dhabi Investment Authority a fundamentally fair hearing by denying two of its 60 discovery requests.

In a March 4 decision, Judge George B. Daniels of the U.S. District Court for the Southern District of New York further found the tribunal did not disregard the law by applying New York law to ADIA’s common law and misrepresentation claims.

In November 2007, ADIA made a $7.5 billion investment in …