Sometimes it pays to settle, and sometimes it pays to fight. It looks like Grant Thornton and its lawyers at Winston & Strawn made a wise decision to fight claims brought by Parmalat and its chief executive, Enrico Bondi, over the fraud that caused the company’s collapse in 2003.
On Friday Manhattan federal district court judge Lewis Kaplan ruled on summary judgment motions that Bondi could not recover damages against Parmalat auditors Grant Thornton LLP or Grant Thornton International because Parmalat’s own officers were responsible for the fraud. Here’s the 45-page opinion from Kaplan.
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