Daily News: September 23, 2014

Citigroup Settles Lawsuit Over Role in Enron Failure

The Wall Street Journal reported Enron Creditors Recovery, Enron’s successor corporation, reached a $1.66 billion settlement with Citigroup over the bank’s alleged role in Enron’s 2001 collapse.

According to Journal , the settlement came a day before Citigroup was expected to ask a judge to toss out the suit, representing a huge step toward the final settlement of litigation Enron brought against 11 banks, accusing them of conspiring with former Enron officials to manipulate the energy company’s finances.

To read the entire Journal article, click here.