When District Court Judge Melinda Harmon granted AllianceBernstein’s motion for summary judgment in the sprawling In re Enron Corp. Securities, Derivative and ERISA Litigation class action, the decision might have gone down as a minor footnote in the multibillion-dollar lawsuit. After all, Alliance Capital Management (AllianceBernstein’s predecessor) already was exonerated in other Enron-related cases. Its dismissal from a long list of defendants was a relatively small development compared to the
$7 billion in settlements Enron investors already reached with other financial institutions in the Texas case.
