Execs

Labor Department Brief Indicates Enron Execs May be Liable for 401(k) Losses

In an amicus court briefing by the U.S. Department of Labor, federal officials considering a motion to dismiss a class-action lawsuit over alleged mismanagement of Enron Corp.’s 401(k) losses have indicated that former Enron Chairman Kenneth Lay and other Enron executives could be held personally liable for millions of dollars in the fund losses. The brief was filed by the Labor Department on behalf of former Enron employees and retirees who participated in three benefit plans sponsored by Enron.

October 7, 2002

Creditors Given Permission to Sue Former Enron Execs

Ten of Enron Corp.’s former top executives, including Chairman Kenneth Lay, CEO Jeffrey Skilling and CFO Andrew Fastow, now face lawsuits by creditors after the U.S. Bankruptcy Court overseeing the company’s case gave its permission. The lawsuits would be handled in Texas district court.

October 3, 2002

Labor Department Brief Indicates Enron Execs May be Liable for 401(k) Losses

In an amicus court briefing by the U.S. Department of Labor, federal officials considering a motion to dismiss a class-action lawsuit over alleged mismanagement of Enron Corp.’s 401(k) losses have indicated that former Enron Chairman Kenneth Lay and other Enron executives could be held personally liable for millions of dollars in the fund losses. The brief was filed by the Labor Department on behalf of former Enron employees and retirees who participated in three benefit plans sponsored by Enron.

October 1, 2002

Dorgan to Justice: Where Are the ‘Handcuffs’ for Enron Execs?

Sen. Byron L. Dorgan, who chaired the Commerce Committee hearings that delved into Enron accounting irregularities, wants to know what’s taking the Department of Justice so long to bring charges against Enron executives.

August 19, 2002

Task Force Records Reveal Energy Execs’ Access to Bush Officials

Energy Secretary Spencer Abraham met privately with 39 energy companies and trade associations while the task force on which he sat developed President Bush’s national energy policy, but he held no meetings with representatives of environmental and consumer groups, according to The Center for Responsive Politics’ (CRP) review of Department of Energy (DOE) task-force documents that were released last week.

April 1, 2002

CA Legislative Panel Subpoenas Skilling, Other Former Enron Execs

The special California state Senate investigative committee last Thursday announced it will subpoena Enron Corp.’s former CEO Jeff Skilling and two other former executives from the company this week to appear at a hearing in Sacramento April 3. Following approval by the year-old Select Committee to Investigate Price Manipulation in the Wholesale Energy Market this week, the subpoenas are expected to be served Monday, according to a committee staff member.

March 18, 2002

Bush Urges Stiff Action for Execs Who Lie to Investors

Without ever once mentioning the financial collapse or scandal that has pervaded Enron Corp., President Bush last Thursday called on federal regulators to mete out stiffer punishments to corporate officers who abuse their positions and provide “grossly inaccurate” information to investors. Bush also said he favored the creation of an independent board to oversee the accounting profession.

March 11, 2002

Bush Urges Stiff Action for Execs Who Lie to Investors

Without ever once mentioning the financial collapse or scandal that has pervaded Enron Corp., President Bush Thursday called on federal regulators to mete out stiffer punishments to corporate officers who abuse their positions and provide “grossly inaccurate” information to investors. Bush also urged regulators to create an independent board to oversee the accounting profession.

March 8, 2002

SEC Lands Hard on Ex-Trans Energy Execs for ‘False Statements’

More than a year after West Virginia-based Trans Energy was working to dispel bankruptcy rumors, the Securities and Exchange Commission (SEC) has fined the company’s former president and CEO, Loren E. Bagley, and its former vice president and CFO, William F. Woodburn, $20,000 apiece for making false and misleading statements to its investors, including statements about its Chapter 7 bankruptcy.

March 4, 2002

SEC Lands Hard on Ex-Trans Energy Execs for ‘False Statements’

More than a year after West Virginia-based Trans Energy was working to dispel bankruptcy rumors (see Daily GPI, Dec. 29, 2000), the Securities and Exchange Commission (SEC) has fined the company’s former president and CEO, Loren E. Bagley, and its former vice president and CFO, William F. Woodburn, $20,000 apiece for making false and misleading statements to its investors, including statements about its Chapter 7 bankruptcy.

March 4, 2002
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