Four former JPMorgan Chase & Co. executives were exonerated from fraudulent bankruptcy accusations related to the 2003 failure of dairy group Parmalat by an Italian court, Reuters reported, citing "a judicial source."

The case claimed that the executives helped the group issue bonds while it was in financial trouble, speeding up its bankruptcy, the news agency reported.

The former executives included JPMorgan's former Italy head Federico Imbert, along with Gabriele Schiavi, Alessandro Mitrovich and Alessandro Rombelli, according to the news story.