SEC backs investors suing Enron
Some 30 US states join class action suite against bankers involved with Enron
Some 30 US states join class action suite against bankers involved with Enron
The US securities regulator will support investors who want to sue the
bankers that allegedly helped Enron
commit fraud.
In a lawsuit valued at US$40bn, shareholders will argue that banking groups
Merrill Lynch, Barclays and Credit Suisse Group were as responsible for the
accounting fraud as Enron.
The US solicitor general, representing government in the Supreme Court case,
has been asked by
the Securities
and Exchange Commission to file a supporting brief to the court, the
Washington Post reported.
Although a federal appeals court in New Orleans
decided in March that shareholders could not proceed with a class action suite,
about 30 other states have joined investors.
The case is set to begin in October.
Further reading:
Report:
SEC is supporting Enron shareholders in high court case
Canadian bank pays £45m to settle Enron case
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 resourceInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View articleShift from BBL debt to equity could pose wider business implications Read More...
View article