Judge Approves $73M Arthur Andersen Settlement

Law360, New York (March 12, 2007, 12:00 AM EDT) -- Shareholders of Enron Corp. will soon enjoy a $72.5 million payday, after a Texas judge approved a settlement in their long-running case against Enron auditor Arthur Andersen LLP.

Judge Melinda Harmon of the U.S. District Court for the Southern District of Texas approved the settlement last Friday, ruling that it represented the maximum amount that could be recovered from the fallen accounting firm.

The lead plaintiff in the case, the University of California Board of Regents, filed the suit against Andersen alleging that the auditor aided...
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