Archives: Enron

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Enron’s Legacies, a Decade and a Half Later

Fifteen years ago this month, the once high-flying energy company Enron completed its massive collapse when it filed a petition for bankruptcy protection. In his interesting December 2, 2016 post on the Harvard Law School Forum on Corporate Governance and Financial Regulation (here), Michael Peregrine of the McDermott, Will & Emery law firm takes a … Continue Reading

Enron, Halliburton and the Milberg Weiss Criminal Investigation

Regular D & O Diary readers will recall my discomfort (as reflected here) with the Enron civil action plaintiffs’ leniency pleas on Andrew Fastow’s behalf at his September 26, 2006 sentencing. This week’s Fortune Magazine has an article entitled "Why Enron’s Fastow May Only Serve Five Years" (here), that explains how it came about that … Continue Reading

Enron’s Legacies and D & O Risk

The following is the text of a speech (modified to optimize Internet capabilities) prepared for the Professional Liability Underwriting Society (PLUS) International Conference on November 9, 2006. Shortly after former Enron CEO Jeffrey Skilling’s October 23, 2006 sentencing (see prior post here), the Enron Task Force announced that it was closing down, declaring that its … Continue Reading

The End of an Era?

According to an October 25, 2006 Washington Post article entitled “End of Enron’s Saga Brings Era to a Close” (here, registration required), the sentencing of former Enron CEO Jeffrey Skilling “closed the book on an era of high profile corporate malfeasance.” Among other things, the Post article reports that “[h]ours after a judge sentenced Skilling…the … Continue Reading

Skilling’s Sentencing

On Monday October 23, 2006, the final chapter in the Enron criminal saga will conclude when Judge Sim Lake sentences former Enron CEO Jeffrey Skilling. Pundits’ estimates of Skilling’s likely sentence range from 20 to 25 years (here). The accumulated anger of the legions of Enron employees and investors seem to require a harsh sentence. … Continue Reading

Enron’s Legacy?

In an October 4, 2006 article entitled “Enron’s True Legacy Is a Lesson on Compliance” (here), Andrew Weissmann, the former director of the Enron Task Force and now a partner at the Jenner & Block law firm, lays out his assessment of the lasting effects of the Enron scandal and criminal prosecution. Weissmann makes … Continue Reading

Notes from Around the Web

FLSA "Explosion": The June 5, 2006 issue of the Wall Street Journal has an article (subscription required) commenting on the "explosion" in cases under the Fair Labor Standards Act (FLSA). The article also contains statistics showing the number of FLSA actions increased four-fold between 2000 and 2005. EPL insurers have been struggling to find the … Continue Reading