BofA To Stand Trial In Italy For Market-Rigging

Law360, New York (July 6, 2007, 12:00 AM EDT) -- Bank of America on Friday was ordered to stand trial in Italy, along with four other banks, for market manipulation charges related to the multibillion-dollar implosion of Parmalat SpA, which the dairy king blamed on its financial partners.

Milan Judge Cesare Tacconi handed BofA a civil indictment claiming that the bank failed to enact policies that could stop three of its former employees from acting illegally, under an Italian law that allows prosecutors to pursue liability claims against employers.

Citigroup, UBS, Deutsche Bank and Morgan Stanley...
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