Parmalat May Proceed With Citigroup Suit

A New Jersey judge ruled that Parmalat, the insolvent Italian dairy company, may proceed with its $10-billion fraud lawsuit against Citigroup Inc.

Separately, Citigroup said the Securities and Exchange Commission had subpoenaed accounting information for 2001 through 2004 in connection with a probe of its Argentine business in 2001 and 2002, when losses topped $2 billion.