Parmalat Sues First Boston For $8.45 Billion

Law360, New York (October 5, 2005, 12:00 AM EDT) -- Embattled Italian dairy products maker Parmalat has filed a lawsuit against Credit Suisse First Boston, alleging that the investment bank arranged a transaction for Parmalat that allowed the company to camouflage billions of euros in losses.

Parmalat is asking for $8.45 billion in damages, the maximum it may seek as the damaged party.

The suit is the second filed in response to a 2002 transaction First Boston arranged for a Brazilian subsidiary of Parmalat. In the first suit, Parmalat sought to revoke the transaction, while the...
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