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Article: Court to Notify Parmalat Investors of $50 Million Partial Settlement of Class Action Lawsuit.
- Article from:
- Business Wire
- Article date:
- March 22, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- A multi-national notification program began today, as ordered by the United States District Court for the Southern District of New York, to alert investors, brokers, financial institutions, and other nominees who bought the common stock and/or bonds of Parmalat Finanziaria S.p.A. and its subsidiaries and affiliates from January 5, 1999 through and including December 18, 2003 about a USD $50 million partial settlement of a U.S. class action lawsuit about the prices paid for Parmalat common stock and bonds.
The lawsuit alleges that Parmalat and numerous other defendants participated in a fraudulent financial scheme, resulting in the understatement of ...