At Long Last, Enron Shareholders Set To Cash Out
The Securities Class Action Clearinghouse is referenced in The Wall Street Journal Law Blog in a posting about the $7.2 billion Enron shareholders settlement:
While the current financial crisis may be delivering a blow to some investors, it looks like some shareholders from the last crisis may finally see a payout. Over the weekend the Houston Chron reported that, nearly seven years after Enron shareholders watched their investments go poof, lawyers at plaintiffs firm Coughlin Stoia are scrambling to begin distributing a $7.2 billion civil settlement before year’s end.
The $7.2 billion settlement is the largest ever amassed in U.S. securities litigation, according to the Securities Class Action Clearinghouse at Stanford University. The second-largest was $6.1 billion in WorldCom litigation.