BofA Beats Some Charges In Italian Parmalat Trial

Law360, New York (January 13, 2009, 12:00 AM EST) -- An Italian court has reportedly acquitted Bank of America Corp. of several charges in the ongoing trial probing whether five banks engaged in market-rigging before Parmalat SpA’s 2003 collapse.

On Tuesday, a court in Milan acquitted Bank of America of charges for events that occurred before April 2002 because the Italian law enforcing administrative responsibilities for companies was not yet in place, Dow Jones reported.

Bank of America, Citigroup Inc., UBS AG, Deutsche Bank AG and Morgan Stanley were accused in the trial of failing to...
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