Citigroup Inc. currently has at least four lawsuits in New York state court against large teams in its Personal Wealth Management unit. 

Three of the cases involved two teams managing over $1 billion in assets. According to AdvisorHub, the teams joined Morgan Stanley Wealth Management. The fourth lawsuit targeted a team that managed $3 billion and joined First Republic's Private Wealth Management business.

All of the cases resulted in stipulated injunctions. The defendants agreed to orders preventing them from soliciting former customers pending the outcome of a related arbitration hearing over a permanent injunction and damages. The stipulated injunction excludes family members from the ban. Moreover, the injunction does not prevent the advisors from processing in-bound account transfer requests of Citi clients or doing business with clients that have already transferred their accounts. 

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