PracticeAuditAndersen’s $260m offer refused

Andersen's $260m offer refused

Creditors of Enron in the US have refused a $260m offer from Andersen to settle claims for damages against the firm, according to reports in the US press.

The exchange between Enron shareholders and Andersen came as the opening shots in negotiations to settle the dispute.

Last week lawsuits by former Enron investors against the company, its former officers and the auditors Andersen, were rolled by a Houston judge into a single class action.

Andersen chief executive Joe Berardino has already publicly admitted that Andersen made an ‘error in juedgement’ while working on the Enron audit and that the firm shredded thousands of documents even after official investigations began.

USA Today reported in the US that Andersen are considering a settlement of $260m but may combine it with $350m worth of liability insurance.

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