BusinessCompany NewsParmalat investors must wait for justice

Parmalat investors must wait for justice

Aggrieved Parmalat investors will have to wait to see justice done, after a judge quashed hopes for an expedited procedure on market-rigging charges.

Prosecutors had hoped they could get a speedy result against former Parmalat chairman Calisto Tanzi and others, including the Italian offices of Grant Thornton and Deloitte, by opting for a fast-track procedure on lesser charges rather than the more complex accusations of fraud. But Judge Guido Piffer found the case was too complex to warrant the use of the speedier process, which relies on pre-trial interrogations and confessions rather than lengthy pre-trial discovery. Prosecutors had hoped for a trial buy June, but now believe it could be up to two years before one can begin, The Financial Times reported.

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