Parmalat Ponders Appeal After Latest Loss To Citigroup

Law360, New York (December 23, 2011, 3:14 PM EST) -- Italian dairy giant Parmalat SpA said Friday that it was considering an appeal of its latest loss in a long-running and costly lawsuit accusing Citigroup Inc. of helping hide its debt from investors in a massive criminal fraud that caused the company's demise.

On Tuesday, a New Jersey state appeals court affirmed a jury's 2008 verdict that found Parmalat had defrauded Citigroup. The appeals court also cleared the $364 million judgment awarded to the bank — an award that has grown to more than $431 million...
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