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Parmalat Suit To Stay in N.J.

A state court in Newark, N.J., is an ideal location to decide whether New York-based Citigroup Inc. was complicit in the fraud that caused the 2004 collapse of Italian dairy giant Parmalat. At least that's what Superior Court Judge Jonathan Harris thinks.

"After carefully reviewing a hastily cobbled together record that supposedly details the tortured and inordinately expensive labors that the parties have endured during the initial discovery phase of this litigation, I am now more convinced that New Jersey remains an appropriate forum for resolution of the instant dispute," Harris wrote in a Jan. 22 decision.

staff Writer

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