Andersen Worldwide to Settle Enron Suits
Andersen Worldwide, the network of foreign accounting firms once linked to Arthur Andersen, will pay $40 million to resolve lawsuits stemming from Enron Corp.’s collapse two years ago, according to court papers.
Under the settlement, Enron shareholders and workers will split $25 million, court papers say. An arbitrator will decide how the money is divided.
The remaining $15 million will be put in a fund to finance continuing Enron-related litigation. None of the money will be used to pay attorney fees. The accord doesn’t cover Arthur Andersen.
Geneva-based Andersen Worldwide also has agreed to pay Enron creditors $20 million.
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