Parmalat Disputes Foreign Claims Against It

Law360, New York (October 1, 2007, 12:00 AM EDT) -- The new, reorganized Parmalat SpA is looking to dismiss all securities fraud claims brought against it by foreign plaintiffs on the grounds that the alleged illegal activity took place in Italy and not the United States. The plaintiffs are fighting back, however, arguing that much of the fraud did, in fact, take place in America.

In court documents filed at the end of August with the U.S. District Court for the Southern District of New York, Parmalat alleged that the foreign plaintiffs, who constitute a majority...
To view the full article, register now.