Judge Keeps Grant Thornton In Parmalat MDL

Law360, New York (February 26, 2009, 12:00 AM EST) -- A judge has refused to dismiss Grant Thornton International Ltd. from the Parmalat SpA securities multidistrict litigation though the financial advising firm claims it is not liable for its Italian subsidiary, which allegedly did not adequately audit the Italian dairy giant before its collapse.

Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York ruled on Wednesday that GTI had failed to prove it wasn’t liable for the actions of GT Italy, one of many accounting firms that Parmalat has sued...
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