The Supreme Court on Tuesday dashed the hopes of defrauded Enron investors who sought to recover billions of dollars from investment banks connected to the collapsed energy firm. Without comment, the justices denied review in a case in which stockholders claimed that a range of banks participated in "contrived, deceptive deals" that helped Enron show profits that were not real. The high court's action was widely expected in the wake of its Jan. 15 Stoneridge decision.
January 23, 2008 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
The Supreme Court on Tuesday dashed the hopes of defrauded Enron investors who sought to recover billions of dollars from investment banks connected to the collapsed energy firm.
Without comment, the justices denied review in Regents of the University of California v. Merrill Lynch, in which stockholders claimed that a range of banks participated in “contrived, deceptive deals” that helped Enron show profits that were not real.
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