A U.S. District judge has approved a 72.5 million dollar settlement between Arthur Andersen LLP and investors who brought suit against the accounting firm for its auditing role in the downfall of Enron Corp. Investors contended that Arthur Andersen aided Enron officials in perpetrating fraud. Arthur Andersen was convicted in 2002 of obstruction of justice and ceased most of its operations. The U.S. Supreme Court overturned the conviction in 2005. The settlement order entered into on May 9, 2007 ends the accounting firm’s involvement in the 40 billion dollar class-action lawsuit.
See http://jurist.law.pitt.edu/paperchase/2007/03/judge-oks-725m-arthur-andersen.php


