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Parmalat to appeal U.S. jury decision on Citigroup

MILAN
Mon Oct 20, 2008 3:35pm EDT

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MILAN (Reuters) - Parmalat SpA (PLT.MI) will appeal a verdict by a U.S. jury on Monday that found that the Italian food group had defrauded Citigroup Inc. C.MI if the court does not turn aside the decision, Parmalat said.

Parmalat said in a statement it "intends to appeal from the decision as well as from the court's earlier summary judgment ruling which narrowed the scope of Parmalat's claims."

The case stems from the 2003 collapse of the dairy firm. The jury awarded Citigroup $364.2 million in damages.


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