Prosecutors to Clear Lehman in Parmalat Case: Report

Law360, New York (January 4, 2006, 12:00 AM EST) -- In a significant victory for Lehman Brothers, prosecutors investigating the Parmalat financial scandal have credited the Wall Street powerhouse with helping to blow the whistle on the Italian dairy giant’s dubious accounting, according to a published report.

A slew of reports Lehman published in 2003, in which it publicly questioned Parmalat’s financial records, served as the basis for prosecutors’ acknowledgement, according to a court document obtained by Dow Jones newswires.

The development could clear Lehman, viewed earlier as a possible defendant in the case, of wrongdoing....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.