A recently filed lawsuit seeks more than $5 million in restitution from defunct accounting firm Arthur Andersen, for creditors of a failed energy company who modeled its business on bankrupt energy giant Enron Corp.
In a lawsuit filed by creditors of Mirant Corp. -- now two years into Chapter 11 bankruptcy -- the group claims Andersen misled both the public and Mirant's management about the company's finances. The suit alleges that Andersen failed to investigate a number of problems and gave Mirant a good fiscal review, despite a number of red flags found in the energy company's own internal reports.
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