Calvo & Clark Obtains Favorable Settlement for Whistleblower in False Claims Act Case
Calvo & Clark, on behalf of a whistleblower client, sued Citibank under California’s false claims act for its practice of sweeping funds from dormant credit card accounts into Citibank’s own general ledger. The complaint asserted that the money “swept” and kept by Citibank should go back to its customers, or else to the state of California as unclaimed property. After the California attorney general intervened against Citibank, Citibank settled by agreeing to pay refunds and damages totaling $18 million.