Yesterday, U.S. District Judge Melinda Harmon (S.D. Tex.) put the final nail in the coffin of what was left of a lawsuit brought by Enron shareholders against banks they alleged helped the company commit fraud. The ruling, which effectively ends the case, comes exactly eight years to the day after Enron filed for bankruptcy protection. Full details on the case, which has already produced $7.2 billion in settlements, are available in this post on my Enforcement Action blog over at Compliance Week.
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[...] end so well for Enron or its employees. Ironically, its collapse created a massive amount of litigation, which ended up becoming a windfall for many Biglaw firms. One law firm in particular, hired [...]