A district court judge approved a $6.6 billion settlement between a trio of banks and Enron Corp. shareholders. In a civil lawsuit, the shareholders accused the banks of helping the bankrupted company hide its shaky financial footing.
The settlements include $2.4 billion from Canadian Imperial Bank of Commerce, $2.2 billion from JP Morgan Chase and $2 billion from Citigroup. Judge Melinda Harmon had already given preliminary approval to the settlement with the three banks in February, and most of the amounts were announced in the summer of 2005.
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