Billions to be shared by Enron shareholders

[quantumleap]

Why can't they put the financial institution people in jail along with the Enron thieves? They were the ones who were a part of this fraud!!!

http://biz.yahoo.com/ap/080909/enron_investor_lawsuit.html

"HOUSTON (AP) -- A federal judge has approved a plan to distribute more than $7.2 billion recovered as part of a lawsuit by Enron Corp. shareholders and investors in connection with the company's collapse.

U.S. District Judge Melinda Harmon also approved $688 million in attorneys fees, the largest ever in a securities fraud case.
About 1.5 million individuals and entities will be eligible to share in the distribution under the settlement plan. The plan was part of a $40 billion lawsuit claiming financial institutions participated in the accounting fraud that led to Enron's downfall. The $7.2 billion comes mostly from settlements made with such financial institutions as Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc."

 

[mamatried]

Why can't they put the financial institution people in jail along with the Enron thieves? They were the ones who were a part of this fraud!!!

http://biz.yahoo.com/ap/080909/enron_investor_lawsuit.html

"HOUSTON (AP) -- A federal judge has approved a plan to distribute more than $7.2 billion recovered as part of a lawsuit by Enron Corp. shareholders and investors in connection with the company's collapse.

U.S. District Judge Melinda Harmon also approved $688 million in attorneys fees, the largest ever in a securities fraud case.
About 1.5 million individuals and entities will be eligible to share in the distribution under the settlement plan. The plan was part of a $40 billion lawsuit claiming financial institutions participated in the accounting fraud that led to Enron's downfall. The $7.2 billion comes mostly from settlements made with such financial institutions as Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc."

What about the biggest thieves of all - THE FREAKIN LAWYERS!!! $688M???!!! ARE YOU KIDDING ME???!!!???

 

[tiznow]

enron just the tip of the iceburg as far as the crooks go

like in the banking institutions over the past several years

lets just say the games have just begun

and the sheep gonna want some heads to roll.....

 

[eek.]

10% is pretty reasonable, those guys can charge pretty much what they like.

 

[kingbill]

10% is pretty reasonable, those guys can charge pretty much what they like.

Very reasonable...with out the lawyers people would have got nothing...

 

[t2050]

Very reasonable...with out the lawyers people would have got nothing...

huh so u got a monopoly you can charge whatever?

whats it work out to about $5000 per hour...nothing reasonable about that fee or most lawyers in general.

 

[quantumleap]

What about the biggest thieves of all - THE FREAKIN LAWYERS!!! $688M???!!! ARE YOU KIDDING ME???!!!???

I thought the same thing. Kind of like the tobacco lawyers. These awards only encourage lawyers to go after big money. In this case it was warranted but how many other large corporations have had frivolous lawsuits filed against them just because the lawyers saw the potential for big money?