Bank of America Makes Peace With Parmalat for $100 Million

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. The BofA settlement follows a $150 million deal between Parmalat and one of its former auditors, Deloitte Touche Tohmatsu.