2nd Circ. Sends Parmalat Fraud Suit Back To Ill.

Law360, New York (February 21, 2012, 12:00 AM EST) -- The Second Circuit on Tuesday resolved a jurisdiction dispute in bankrupt Italian dairy giant Parmalat SpA's securities fraud suit against Grant Thornton LLP, remanding the case to Illinois state court and vacating a New York federal court ruling.

The suit was originally filed in Illinois state court by Parmalat and bankruptcy trustee Enrico Bondi, but was removed to federal court and included as part of a multidistrict litigation in New York. The New York federal judge had previously ruled that he had jurisdiction over the suit,...
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