Judge Certifies Class In Parmalat Securities Suit

Law360, New York (August 22, 2008, 12:00 AM EDT) -- A federal judge has certified a class of shareholders in the securities fraud action accusing Parmalat SpA and several of its accounting and financial advisers of concocting a massive scheme to overstate the Italian dairy giant's profits and assets by billions of dollars for more than a decade.

In an order handed down Wednesday, Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York certified a settlement class composed of shareholders who purchased Parmalat stock between Jan. 5, 1999 and...
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