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U.S. court revives cases against Enron executives

Tue Sep 9, 2008 5:11am EDT
An unidentified Enron maintenance man polishes the company logo in front of the bankrupt energy giant's corporate headquarters in Houston, January 28, 2002. REUTERS/Richard Carson

(Reuters) - A ruling in the federal appeals court in New Orleans on Monday revived Texas state court fraud cases targeting Enron Corp's former leaders and more than a dozen financial institutions accused of playing a role in the company's collapse, legal documents showed.

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The ruling by the Fifth Circuit Court of Appeals, which reverses an earlier federal court decision, allows cases to proceed against individuals and institutions which have not yet reached a settlement.

In late 2001, the Houston law firm of Fleming & Associates filed seven securities-related lawsuits in Texas state courts on behalf of several hundred clients against various Enron-related defendants, according to the documents.

The federal court, which already had jurisdiction over various Enron-related cases, then issued an order prohibiting Fleming from filing any new Enron-related actions without leave of the court.

In 2005, Fleming's leave to file lawsuits against Enron-related defendants for fraud in Texas courts was denied by the federal court.

(Reporting by Sweta Singh in Bangalore; Editing by Jon Loades-Carter)
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