Andersen worldwide settles Enron lawsuits

Andersen Worldwide SC, the international umbrella organisation of auditing firm Arthur Andersen LLP, has agreed to pay $40m to settle lawsuits from Enron investors and employees.

Andersen Worldwide SC, the international umbrella organisation of auditing firm Arthur Andersen LLP, has agreed to pay $40m (€40.8m) to settle lawsuits from Enron investors and employees.

The settlement is the first to emerge from a €25bn (€25.5m) lawsuit filed on behalf of Enron investors, led by the University of California, and another lawsuit filed by former employees in the aftermath of the failed energy company’s swift collapse last year in a swirl of accounting scandals.