Judge Rules Against Deloitte: Shareholder Suit on US and Global Firm Can Proceed

We have blogged about Deloitte and Parmalat many times earlier. Parmalat, the Italian diary company plunged into spectacular bankruptcy in 2003 when it collapsed under a huge debt burden of EUR 14 Billion. Since then, the company restructured and relisted in 2005 in Milan Stock Exchange...

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Deloitte Settles Parmalat Suit for $149 Million

We hear that Deloitte will settle its suit with Parmalat SpA for $149 million to settle lawsuits where it was accused of participating in the Italian dairy company's bankruptcy in December 2003.

In a recent joint statement both parties indicated that this settlement resolves all litigation issues between them. Also covered was Dianthus SpA, which operated as Deloitte & Touche until July 2003 in Italy.



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KPMG Linked with Frank Quattrone Through Interesting Development

We hear that U.S. District Judge Lewis A. Kaplan. who is overseeing the case against 18 KPMG personnel for fraudulent tax shelters is also going to be assigned to a case against Frank Quattrone, the former investment banker from the West Coast office of Credit Suisse First Boston....

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