Insurers Ditch Parmalat Securities MDL Against BofA

Law360, New York (September 20, 2010, 2:49 PM EDT) -- Scottish Re (US) Inc., Principal Life Insurance Co., Principal Global Investors LLC and Aviva Life Insurance Co. have joined a growing group of plaintiffs who have settled a suit accusing Parmalat SpA underwriter Bank of America Corp. of costing them millions of dollars by hiding the financial state of the Italian dairy giant before its 2003 collapse.

Judge Lewis A. Kaplan signed off on the parties' agreement to dismiss the claims with prejudice in the U.S. District Court of the Southern District of New York on...
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