Sep. 9--Eligible shareholders whose Enron holdings became worthless when the company crumbled in scandal will receive $7.2 billion in settlements under a distribution plan approved in federal court.
And the California-based law firm that ran massive Enron shareholder litigation for more than six years will get $688 million -- plus interest -- for its work, U.S. District Judge Melinda Harmon ruled late Monday.
"We're pleased that the court recognizes the tremendous amount of work, skill and determination required to overcome significant obstacles in this complicated case and recover over $7 billion for defrauded investors," said Patrick Coughlin, chief trial counsel for the firm that ran the litigation, Coughlin Stoia Geller Rudman & Robbins.
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