Judge Ends Enron Suit Filed by Shareholders
HOUSTON — A Houston federal judge has signed an order ending an 8-year-old lawsuit by Enron Corp. shareholders and investors who had accused various financial institutions of participating in the accounting fraud that led to the once mighty energy giant's downfall.
The lead plaintiffs in the case, the regents of the University of California, asked U.S. District Judge Melinda Harmon on Wednesday to dismiss claims against the remaining defendants — several banks and individuals — in the case because of court rulings that have ended any chances of recovering additional monies.
Harmon's ruling won't affect the more than $7.2 billion settlement that has already been obtained in the case. The settlement is the largest in history in a U.S. securities fraud case.