Enron shareholders close to multi-billion dollar payout
Enron shareholders could take their portion of $7.2bn payout by end of the year
Enron shareholders could take their portion of $7.2bn payout by end of the year
Enron shareholders are just months away from receiving their piece of a
$7.2bn (£4.1bn) settlement, after a judge approved a distribution plan.
US district judge Melinda Harmon approved distribution to eligible
shareholders, who could potentially take their share by the end of the year,
reported
the
Houston Chronicle.
A spokesman for the law firm handling the litigation said the approval was a
‘big step’ towards distribution.
The payout will be the highest ever in US securities litigation, beating
WorldCom litigation payout of $6.1bn.
The bulk of the payouts were funded by various financial institutions, former
auditors Andersen, and Enron directors.
Further reading:
Read
the Houston Chronicle’s story
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceSeperating internal and external audit remains a key issue ten years on from Enron's collpase, claims IIA chief Dr Ian Peters Read More...
View articleA decade since the Enron scandal and we're no closer to restoring confidence in the markets, says Max Williamson Read More...
View articleUS audit regulator may stop European auditors registering in America Read More...
View articleSkilling will challenge law in attempt to overturn 24-year sentence Read More...
View articleAuditing Practices Board releases consultation paper on non-audit work for audit clients Read More...
View article