Parmalat Judge Tosses Suits Against Banks, Auditors

Law360, New York (August 10, 2007, 12:00 AM EDT) -- Weeks after being released from claims of securities fraud by foreign plaintiffs, a group of banks and auditors accused of playing a role in the collapse of Parmalat SpA have triumphed again, this time winning a bid to dismiss lawsuits brought on behalf of two bankrupt subsidiaries of the Italian dairy conglomerate.

The financial institutions—Bank of America Corp., Credit Suisse Group, Deloitte Touche, Grant Thornton International., Banca Nazionale and Banca Intesa—won their joint motion to throw out the two lawsuits in a ruling by Manhattan district...
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