Bondi v. Citigroup

VERDICT

Trial
05/15/08 – 10/20/08

Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2
Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

Parmalat SpA, the Italian dairy company that collapsed in 2003, sought $2 billion in damages from Citigroup.

Parmalat Chief Executive Officer Enrico Bondi seeks to prove that Citigroup, the largest U.S. bank by assets, aided and abetted larceny by corrupt insiders at Parmalat.

Citigroup claimed that it was a victim, not a perpetrator, and that Citigroup had lost $700 million in the Parmalot fraud.

The jury awarded Citigroup $364 million dollars.

Outcome

Damages by Plaintiff's Conversion: 210,192,280
Damages to Citigroup for Fraud: 364,228,023
Damages to Citigroup for Negligent Misrepresentations: 364,228,023

Total Awarded to Citigroup:938,648,326
Total (Capped): 364,228,023

Case Information
Attorneys
Witnesses

Sessions

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9
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Plaintiff Witness(es)
3 Chapters
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10
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13
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25
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3
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Plaintiff Witness(es)
3 Chapters
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9
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Plaintiff Witness(es)
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JUL
30
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SEP
12
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9
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3 Chapters
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10
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OCT
16
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1 Chapters
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Verdict
1 Chapters
OCT
20

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