Dan Newman, a spokesman for law firm Coughlin Stoia Geller Rudman & Robbins, lead counsel for the class in the securities class action against Enron and other related defendants, reiterated that the firm is still planning to begin distributing the $7.2 billion civil settlement in the case before the end of the year. The Houston Chronicle reports that the firm aims to distribute 80 percent of the money in multiple disbursements by the end of December.
The distribution plan reportedly calls for funds to go out to about 1.5 million individuals and entities. Investors who bought common stock during the eligibility period stand to receive an average of $6.79 per share, while those who purchased preferred stock can receive an average $168.50 per share. The deadline to file a claim had been extended to last Monday, but Newman said the claim filing period is now closed and the firm is no longer accepting late claims.