BofA Ends Fight With Insurer Over Parmalat Losses

Law360, New York (August 4, 2010, 5:53 PM EDT) -- John Hancock Life Insurance Co. has settled its suit claiming Parmalat SpA underwriter Bank of America Corp. caused it to lose out on an $81 million investment by hiding the financial state of the Italian dairy giant before its 2003 collapse.

Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York signed off on the settlement Tuesday, putting an end to a nearly four-year-old fight that was consolidated with the Parmalat multidistrict litigation in June 2007.

Hancock sued BofA in...
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