Washington (March 12, 2002) -- Federal prosecutors confirmed Tuesday that they intend to charge Big Five firm Andersen with obstruction of justice for its role in failing to prevent widespread document shredding related to the audit of bankrupt energy provider Enron Corp.

According to the Washington Post, prosecutors have set a March 14 deadline for Andersen to agree to enter a plea of guilty.

However, industry observers opine that Andersen may be pressed into a quick settlement of the obstruction charges due to a litany of pending litigation from shareholder lawsuits and the specter of fines and disciplinary action from the Securities and Exchange Commission.

- Electronic Accountant Newswire staff

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