According to CFO.com, Deloitte has reached an agreement to settle with Parmalat in an amount equivalent to $0.06 for investors:
Under the proposed settlement, Deloitte will pay the bondholders up to 6 percent of the nominal value of their investments made before Nov 11, 2003. Yet the Big Four firm still denies any participation in or knowledge of the massive fraud, as does Dianthus SpA, an auditing firm that operated in Italy under the Deloitte & Touche name until July 2003.
It is almost impossible to put a figure on the total amount of the settlement because it is dependent upon acceptance by the 32,000 bondholders.
The previous Parmalat settlement was estimated to have cost each Deloitte partner around $19,000. A fleabite compared to average partner compensation running at $650,000.
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