Judge approves first Enron settlement

A judge in Houston, Texas, has approved the first settlement to emerge from shareholder and employee lawsuits stemming from Enron’s collapse.

More than a year ago, Andersen Worldwide SC – now AWSC Societe Cooperative, the international umbrella organisation that used to include Arthur Andersen - agreed to pay $40m (€35m) to settle claims filed on behalf of Enron investors and former employees.

Judge Melinda Harmon gave final approval to the deal.

Arthur Andersen was convicted last year of obstruction of justice for shredding and doctoring Enron-related documents in late 2001 to thwart a Securities and Exchange Commission probe.