Morgan Stanley

Parmalat SpA filed a lawsuit against the financial company for actions surrounding the period before they nearly collapsed in a fraud scandal. In 2003, Parmalat was caught up in a massive accounting scandal that left them $21.9 billion dollars in debt. Morgan Stanley has agreed to pay Parmalat $242 million to settle claims that they knew the Italian dairy giant was failing even as they helped it to raise funds. (Jun-24-05) [SMH NEWS]

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