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Washington (AP)-Former Enron Corp. employees who lost millions in retirement money in the company’s collapse would get $85 million in a partial settlement of their lawsuit, while former directors agreed to pay $1.5 million to resolve a related suit by the U.S. Labor Department, attorneys said last week. In their class action, the employees alleged that the now-bankrupt energy company and its officers failed to execute their duties in administering Enron’s pension plan. The partial settlement calls for the company to hand over an $85 million insurance policy. It resolves the claims against Enron’s human resources staff and company directors, but not those against Kenneth Lay, who had been Enron’s chairman, and former Chief Executive Officer Jeffrey Skilling. The Labor Department’s suit, filed last June, also named Lay and Skilling. It sought hundreds of millions of dollars in lost employees’ retirement money, alleging mismanagement of retirement plans full of company stock. Employees’ attorneys said their deal would be the largest settlement of a case involving company stock in retirement plans.

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