Judge OKs First Enron - Related Settlement [View All]

HOUSTON (AP) -- A federal judge has approved the first settlement to emerge from federal shareholder and employee lawsuits stemming from Enron Corp.'s 2001 collapse.

More than a year ago, Andersen Worldwide SC -- now AWSC Societe Cooperative, the international umbrella organization that used to include Chicago-based Arthur Andersen LLP -- agreed to pay $40 million to settle claims of at least $25 billion filed on behalf of Enron investors and former employees.

Late Thursday, U.S. District Judge Melinda Harmon gave final approval to the deal. As attorneys proposed, the money will be split, with $25 million going to plaintiffs and $15 million set aside to pay for costs associated with the litigation. Those costs don't include attorney fees, which will be requested in the future.

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http://www.nytimes.com/aponline/business/AP-Andersen-Settlement.html