Parmalat Suits Against Grant Thornton, BofA Nixed

Law360, New York (September 18, 2009, 7:15 PM EDT) -- A district judge has tossed suits against Bank of America Corp. and auditing firm Grant Thornton International relating to the 2003 bankruptcy of Italian dairy giant Parmalat SpA.

The suits, both part of a 2006 multidistrict litigation in the U.S. District Court for the Southern District of New York, allege the defendants helped Parmalat insiders orchestrate a massive fraud that ultimately led to the company's bankruptcy.

A Parmalat subsidiary sued Bank of America, while the company's chief executive, Enrico Bondi, sued GTI and its U.S. business...
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