TITLE

Parmalat May Face Investors in US Court

AUTHOR(S)
Laughlin, Kate
PUB. DATE
June 2006
SOURCE
Investment Dealers' Digest;6/12/2006, Vol. 72 Issue 23, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that on June 2, 2006, lawyers in the U.S. securities fraud class action suit have filed an amended complaint in federal court in New York, making claims for the first time against the newly reorganized Parmalat Finanziaria. Parmalat had been found to be understating its debt by about $10 billion and overstating its net assets by $16.4 billion before it collapsed into a bankruptcy. Before it emerged from bankruptcy, investors could not file a lawsuit against the company itself.
ACCESSION #
21258634

 

Related Articles

  • Parmalat plan.  // Dairy Industries International;Jun2004, Vol. 69 Issue 6, p7 

    Reports that troubled and insolvent dairy company Parmalat SpA has announced guidelines for a corporate restructuring plan. Process of paying the company's creditors; Submission of the plan to Italy's minister for industry.

  • Citigroup Acts in Parmalat Case. Bloomberg News // American Banker;12/30/2004, Vol. 169 Issue 249, p19 

    Reports that Citigroup Inc. asked a U.S. court for permission to sue Parmalat Finanziaria SpA affiliates in Ecuador and Paraguay to recover almost $11 million. Details of the legal disputes between Parmalat and Citigroup; How Parmalat owes millions to Citigroup according to papers filed with the...

  • Frequency, number of securities class action suits rises sharply. Casale, Jeff // Business Insurance;2/9/2009, Vol. 43 Issue 6, p4 

    The article reports on the findings of the 2008 securities class action report by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse on the number of class action suits filed in the U.S. Cornerstone noted that the 103 of the 210 total securities class action...

  • Parmalat advisers jostle for legal fees as wind-up hits snag.  // Lawyer;2/9/2004, Vol. 18 Issue 5, p1 

    Reports on the reimbursement of legal fees for lawyers of the creditors of bankrupt Italian food group, Parmalat, following a failed attempt to reorganize the company. Set-up of a creditors committee by the debtor to reimburse the law firms; Deliberation on amount of fees to be paid.

  • End of the line for Parmalat?  // Dairy Industries International;Jan2004, Vol. 69 Issue 1, p6 

    Details the story behind the collapse of Italian dairy company Parmalat SpA. Announcement of net debts in its 2003 third quarter results; Liquidation of assets from an offshore fund known as Epicurum in order to pay debtors; Resignation of founder and chairman Calisto Tanzi; Accusations of...

  • AN ITALIAN bankruptcy court.  // Finance Week;1/12/2004, p8 

    Reports that an Italian bankruptcy court has declared Parmalat Finanziaria, parent company of collapsed dairy group Parmalat, insolvent. Suspected fraud totaling around 10 billion euros that spanned a decade.

  • Suits, Chapter 11 for Mortgage Firm. Bergquist, Erick // American Banker;2/9/2004, Vol. 169 Issue 26, p19 

    Metropolitan Mortgage and Securities Co. Inc. and its securities subsidiary have filed for Chapter 11 bankruptcy protection just weeks after being hit with two class actions alleging securities violations, according to published reports. The Spokane, Washington company made the filing on...

  • Farewell Mandriva. Hayward, David // Micro Mart;2015 Special Issue, Issue 1366, p92 

    The article reports on the shutdown of Mandriva S.A. amid bankruptcy in France. The closure was the result of class action suit filed by it former employees who were laid off in 2013 as part of restructuring process to cope with business losses. Shareholders have also decided not to invest in...

  • MDLs & Bankruptcy. Franke, Nicholas A. // Debt Cubed;Jul/Aug2005, Vol. 20 Issue 4, p10 

    Provides an overview of multidistrict litigation (MDL) in the United States. Comparison between MDL and class action litigation; How bankruptcy can be used to expand the scope of MDL; Pitfalls bankruptcy presents for MDL.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics