Quinn Emanuel Urquhart Oliver & Hedges has managed to squeeze out another settlement for Parmalat, the new-and-improved version of the Italian dairy company that collapsed under the weight of internal fraud in 2003. On Tuesday, Bank of America announced that it had reached a $100 million global settlement with Parmalat in a deal that includes a cash and non-cash component.
BofA, which is represented by Sidley Austin, and Parmalat filed a joint motion asking Manhattan federal district court Judge Lewis Kaplan to stay Parmalat’s securities fraud case against the bank, which is one of the many Parmalat cases before Kaplan. (We’ve previously written about the proceedings here, here, and here.)
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