New York, NY: (Feb-20-07) Deloitte, an audit firm, was sued by Parmalat for prolonging fraud at the company leading to its collapse in 2003. In a court ruling, Deloitte was ordered to pay $149 million in damages to the Italian Dairy Company. Parmalat claims to have let Deloitte off for a relatively small amount, though it hopes to secure bigger settlements from Bank of America and Citigroup for similar offenses. [MSNBC: DELOITTE FRAUD]

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