PracticeAccounting FirmsAndersen settlement talks collapse

Andersen settlement talks collapse

Andersen will now almost certainly face a criminal trial over the destruction of Enron documents after settlement talks collapsed yesterday.

According to reports, Andersen decided it could not sign a deal that had been negotiated for nine days because the probationary period of three years would have been too long.

The collapse of the deal will be a set back for the US Department of Justice, which had been relying on Andersen for assistance in its broader investigation of Enron.

At the same time, settlement talks with the various class action suits also collapsed.

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