Bank of America Prevails in Parmalat Securities Litigation

NEW YORK, NY – Nearly eight months after presiding over a two-week bench trial, District Court Judge Lewis Kaplan dismissed the suit against Bank of America that was filed by two Cayman Island companies. Judge Kaplan was not persuaded that the evidence supported any of the claims brought by the plaintiffs, including breach of contract, quasi-contract, negligent misrepresentation and breach of fiduciary duty, and determined that the $500 million in claimed damages lacked merit.

The trial team of Sidley Austin partners Joseph B. Tompkins, Jr. and Alan Geolot represented Bank of America. Impact Trial’s Bill Weir, Jesse W. Stevenson and Thomas S.Y. Lee worked directly with the Sidley Austin team to provide litigation graphics consulting and trial technology support throughout the lengthy trial.

Food Holdings Ltd., et al. v. Bank of America Corp., et al., 1:2005-CV-09934, US District Court – Southern District of New York.