Citigroup Awarded Largest Defense Verdict of 2008 Over Parmalat

HACKENSACK, NJ – A New Jersey jury awarded Citigroup a defense verdict of $364.2 million in damages, handing the financial services company a decisive victory over Parmalat, the Italian dairy giant. The jury found that Parmalat had defrauded Citigroup in a case stemming from a 2003 accounting scandal.

Firm partners Theodore V. Wells, Jr. and John F. Baughman (Paul Weiss) represented Citigroup, with Impact Trial’s Jesse W. Stevenson, Bill Weir and Kara Lyon working closely with the litigation team throughout the trial to provide invaluable trial technology and litigation graphics consulting and support.

Bondi v. Citigroup, BER-L-10902-04, New Jersey Superior Court (Hackensack).