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Source: The Rosen Law Firm PA

•  Legal Business     updated  2008/03/02 20:58

A federal judge is considering a plan to dole out $7.2 billion to Enron stockholders whose shares became worthless when the company collapsed in scandal more than six years ago.

U.S. District Judge Melinda Harmon also is considering a request for a $688 million fee — or 9.52 percent of the settlement — for the California law firm that is handling the litigation.

After listening to several hours of arguments on Friday, Harmon said she would rule "as quickly as I can."

The $40 billion lawsuit, originally filed several weeks before Enron imploded in 2001, once targeted more than 80 defendants alleged to have perpetuated or enabled fraud at the company.

Those included top executives, outside accountants and law firms and banking titans that kept billions of dollars flowing into Enron.


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