Corporations and securities brief ~ Parmalat investors file lawsuit to recover losses

In Tuesday's corporations and securities law news, Hermes Focus Asset Management Europe Ltd. has joined four other bond funds to sue former executives, auditors and lenders of dairy giant Parmalat. The suit seeks to recover billions of dollars investors lost after the company collapsed into bankruptcy last year. Bloomberg has more.

In other news, the SEC is investigating the accounting of pension and health care plans at US automotive giants General Motors and Ford Motor Co. The announcement came a day after SEC requested similar documentation from automotive supplier Delphi. AP has more.... As previously reported on JURIST's Paper Chase, the European Commission announced Tuesday that it has reached a settlement with Coca-Cola over an anti-trust probe into the company's practices in Europe. The commitment decision [PDF], which is similar to a US consent decree, is binding on Coca-Cola. The Commission has a press release here. Read the Coca-Cola press release here. AFP has more.... The SEC is probing the Chicago office of Bear Stearns & Co. Inc. into how the company won contracts to underwrite billions of dollars in municipal bonds. AP has more.... As previously reported on JURIST's Paper Chase, Martha Stewart's attorneys plan to file an appeal in her insider trading conviction on Wednesday arguing Stewart's Sixth Amendment right to confront a witness was violated during her trial. Read the indictment against Stewart here [PDF]. JURIST's Paper Chase has ongoing coverage of the Martha Stewart case. CNN has more.... The conspiracy and fraud trial of former Merrill Lynch & Co. and Enron executives indicted in the Nigerian barge deal between the companies was delayed due the judge's illness. The trial is expected to resume on Wednesday. AP has more.... As previously reported on JURIST's Paper Chase, US District Judge Karon O. Bowdre agreed to unseal documents in the criminal case of former HealthSouth CEO Richard Scrushy [PDF]. AP has more.... As previously reported on JURIST's Paper Chase, US District Judge Barbara Jones Tuesday delayed the start of former WorldCom CEO Bernard Ebbers' trial until January. Read the order here [PDF]. Reuters has more.

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