A federal judge has signed off on a $72.5 million settlement between Arthur Andersen and investors who sued the former accounting giant over its role in the financial collapse of former energy giant Enron Corp.
U.S. District Judge Melinda Harmon signed the final order last week, which marks the end of Andersen’s involvement in a $40 billion class-action lawsuit brought by Enron investors. The settlement was initially reached in September, with Andersen admitting no wrongdoing on its part, and attorneys for the investors saying that the amount was the most they could expect to receive from the nearly defunct accounting firm.
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