http://money.cnn.com/2008/09/09/news/companies/enron_shareholders.ap/index.htm About 1.5 million people or business entities will share the more than $7.2 billion in settlements paid out from the lawsuit related to the company's collapse. September 9, 2008: 3:48 PM EDT 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 (BAC, Fortune 500).,JPMorgan Chase & Co. (JPM, Fortune 500) and Citigroup Inc. (C, Fortune 500) ------------------------------------------------------------------------ Nice to see that the shareholders aren't going to walk away entirely empty handed. Still, it's only drop in the bucket compared to the total shareholder losses.
Ironically, it's the same banks that knowingly financed (and collected LARGE fees for doing so) all the sleazy deals that caused the whole debacle.
