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Bonelli Erede Pappalardo is the new legal adviser to Italian software company Finmatica, which is under investigation for market rigging and obstruction of justice.
Bonelli is the second firm to be appointed since a new board was brought in on 22 January. Its first choice, Fabio Palazzo of boutique firm Studio Legale Pisapia, resigned so he could act for the company’s former chairman Piero Luigi Crudele, who is under investigation.
Name partner Franco Bonelli and partner Luca Picone are advising the client for the first time.
Finmatica denies the allegations, but due to possible difficulties it has sacked its former auditor, which was then the Italian arm of Grant Thornton, which is being investigated for its role in Parmalat, and appointed new lawyers and directors.