U.S. District Judge Melinda Harmon in Houston on Wednesday approved a $6.6 billion civil settlement by three banks that Enron Corp. shareholders had accused of helping to conceal the company’s financial problems. To date, financial institutions involved in deals with Enron before it collapsed have agreed to pay more than $7 billion to resolve shareholder lawsuits.
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Andersen’s Sentence, Fine Harshest Allowed Under Law
U.S. District Judge Melinda Harmon handed Arthur Andersen LLP the maximum sentence in Houston on Wednesday — five years probation and a $500,000 fine — for obstructing justice in its handling of Enron Corp.-related documents that stymied a federal investigation of the company’s finances. Although it seemed minuscule when compared to the substantial market damage caused by the Enron scandal, the punishment was the harshest allowed under law. Andersen attorneys said they would appeal.
October 21, 2002
Andersen’s Sentence, Fine Harshest Allowed Under Law
U.S. District Judge Melinda Harmon handed Arthur Andersen LLP the maximum sentence in Houston on Wednesday — five years probation and a $500,000 fine — for obstructing justice in its handling of Enron Corp.-related documents that stymied a federal investigation of the company’s finances. Although it seemed minuscule when compared to the substantial market damage caused by the Enron scandal, the punishment was the harshest allowed under law. Andersen attorneys said they would appeal.
October 17, 2002
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