Parmalat Defendants Call On Stoneridge

Law360, New York (January 18, 2008, 12:00 AM EST) -- Bank of America Corp., Citigroup Inc. and Pavia e Ansaldo have all filed letters saying claims against them of deception and scheming should be dropped in light of Tuesday's landmark decision in Stoneridge Investment Partners LLC v. Scientific-Antlanta Inc.

The three parties are defendants in the securities fraud class action In Re Parmalat securities litigation.

In the Stoneridge ruling, the Supreme Court limited investors' abilities to sue third parties for securities fraud. Under the ruling, third parties cannot be held responsible simply because they conducted business...
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