An investor class action lawsuit alleging that Citigroup and Bank of America were responsible for the collapse of parmalat Finanziaria SpA, has been dismissed.
In December 2003 Parmalet filed for bankruptcy following an alleged lengthy fraud. In 2006, Banca Nazionale Del Lavoro SpA and Credit Suisse First Boston paid $50 million as settlements for claims against them alleging they were in part resonsible for the collapse of Parmalat.
