March 30, 2007
U. of California Will Seek High-Court Hearing on Enron
A federal appeals court last week blocked a class-action shareholder lawsuit against several investment banks that had advised the collapsed Enron Corporation. Now the University of California says it will ask the U.S. Supreme Court to step in and let the case proceed.
The university is the lead plaintiff in the lawsuit, which was filed by former investors in the now-bankrupt energy company. Settlements in the case so far have totaled $7.3-billion, to be shared by 50,000
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