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Enron shareholders learn outcome of suit

Enron Corp. investors who sued the company more than six years ago are learning this week they'll receive an average of $6.79 per share for the common stock they owned.

A court-approved mailing also notifies those who owned preferred stock they'll get $168.50 a share.

The lawsuit, known as the Newby case after shareholder Mark Newby, covers those who invested in Enron stock from Sept. 9, 1997, until Dec. 2, 2001, when the company declared bankruptcy.

The class comprises about 1.5 million buyers of stocks and bonds. They could have purchased common shares as high as $90 when Enron was soaring in August 2000 or as low as $1 right before the bankruptcy.

Enron shareholders learn outcome of suit

Full post as published by inside Sarbanes Oxley on January 16, 2008 (boomark / email).