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Article: Parmalat says Citigroup helped mislead investors
- Article from:
- International Herald Tribune
- Article date:
- July 31, 2004
- Author:
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Eric Dash
International Herald Tribune
07-31-2004
Parmalat, the Italian food and dairy company, has filed a civil lawsuit against Citigroup contending that the investment bank knowingly helped structure complex transactions that misled shareholders and cost Parmalat billions of dollars. The suit, which was filed Thursday in New Jersey Superior Court, where key divisions of both companies are based, is the first legal action taken against Parmalat's lenders by Enrico Bondi, a trustee appointed by the Italian government to help the company emerge from bankruptcy. But it is only the latest case to link Citigroup to a company accused of defrauding investors. Enron, WorldCom and Adelphia are ...