Banks Protest Class Certification In Enron Case

Law360, New York (February 5, 2007, 12:00 AM EST) -- Two investment banks accused of playing a role in the accounting fraud that felled Enron Corp. have asked an appeals court to toss the case against them.

Merrill Lynch & Co. and Credit Suisse Group filed a motion with the U.S. Court of Appeals for the Fifth Circuit asking the court to throw out the class certification in the shareholder suit.

The investment firms have argued that the suit should be dismissed on the grounds that the plaintiffs have not demonstrated that the banks knowingly participated...
To view the full article, register now.