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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.