Deloitte Touche Tohmatsu and Grant Thornton International, along with Bank of America, have been named as defendants in two lawsuits seeking almost $1 billion for a trio of Cayman Islands companies.
According to the filings, Food Holdings Ltd., Dairy Holdings Ltd. and Parmalat Capital Finance Ltd. -- all in liquidation -- said that they suffered substantial losses related to the 2003 collapse of Parmalat and were suing the Italian dairy company's principal banker and auditors, alleging a number of financial improprieties, including fraud, negligent misrepresentation and breach of fiduciary duty.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access