Supreme Court Refuses Enron Shareholder Case
The U.S. Supreme Court has refused to consider an appeal by former Enron investors who were seeking to recover more than $30 million from a number of Wall Street investment banks. The shareholders alleged that the banks – including Credit Suisse First Boston and Merril Lynch – conspired with the now-defunct energy company to hide its liabilities and inflate its value. According to the Associated Press, by refusing to review the investors’ lawsuit, the court took away what may have been their only hope of keeping the case alive....