• Most Popular
  • Most Shared

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.

U.S.  |  Stocks  |  Global Markets

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)
U.S.
Stocks
Global Markets


More from Reuters

Photo

Saab says bid deadline dropped

AMSTERDAM (Reuters) - General Motors has extended a December 31 deadline for bids for its Swedish car brand Saab, which will restart some production lines in January after a shutdown, Saab said on Wednesday.

» More Top News
Maria Montero carries plastic products for quality control inspection at Blow Molded Plastics in Pawtucket, Rhode Island November 17, 2009. REUTERS/Brian Snyder

Learning to survive and thrive

Small manufacturers in states like Alabama are taking a risk on innovation to compete with with low-cost competition. It's working. The second installment in a three-part report.  Full Article 

Route to Recovery
Disgraced financier Bernard Madoff is escorted by police and photographed by the media as he departs U.S. Federal Court after a hearing in New York, January 5, 2009. REUTERS/Lucas Jackson

I beg your pardon ...

Bernie Madoff became the poster boy of crooked investment schemes this year -- but he wasn't alone. Here's a look at the 10 most notorious cases of 2009.  Full Article 

Corporate Crime