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Enron investors to split $7.2 billion

Discussion in 'Wall St. News' started by newguy05, Sep 10, 2008.

newguy05
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That's not a shabby deal at all for the enron bagholders, all things considered. $6.7 for common, $168.5 for preferred.

NEW YORK (CNN) -- In the largest settlement in the history of U.S. securities fraud cases, Enron shareholders and investors will split more than $7.2 billion from financial institutions accused of playing a role in the energy giant's downfall.

About 1.5 million people will share the $7.2 billion Enron settlement, an attorney said.

About 1.5 million people and entities are eligible to share in the distribution of the money, according to Dan Newman, a spokesman for the law firm that represented the lead plaintiffs.

"Investors will get an average of $6.79 per share of common stock and an average of $168.50 per share of preferred stock," Newman said.
More...

http://www.cnn.com/2008/US/09/09/enron.settlement/index.html

#1 Sep 10, 2008

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