Enron Class Action









Welcome to Keller Rohrback L.L.P.'s Enron ERISA fraud site which is designed to keep those with Enron 401(k) retirement plans informed about their rights. Keller Rohrback's ERISA team is headed by the firm's managing partner Lynn Lincoln Sarko and partner Britt Tinglum.

This website provides information and updates regarding Tittle, et al v. Enron Corp., et al. This class action was the first case filed on behalf of all persons who were participants in or beneficiaries of the Enron Corporation Savings Plan, (401(k) Plan) from January 20, 1998, through December 2, 2001, (the Class Period) and who made or maintained investments in Enron stock. It also includes participants of the Enron Stock Ownership Plan or Cash Balance Plan during the Class Period. See the case for more information regarding the basis of the case.

Case Status:

December 2006
December 7, 2006
  Keller Rohrback announces Preliminary Approval of partial settlements with Jeffrey K. Skilling and the Estate of Kenneth L. Lay as well as the apportionment of the fund previously recovered in the settlement with Andersen Worldwide Societe Cooperative ("AWSC"). The proposed partial settlements are on behalf of all participants in Enron's ESOP and Savings Plan, during the period January 20, 1998 through December 2, 2001.

July 2006
July 24, 2006
  Keller Rohrback announces Final Approval of the $37.5 million dollar Enron Partial Settlement (plus interest, less attorneys’ fees and costs) to pay claims to all persons who were participants or beneficiaries in the Plans during the period from January 1, 1995 through December 2, 2001 (“Class Period”). The Partial Settlement resolves claims against The Northern Trust Company (“Northern Trust”), which allegedly breached its fiduciary duties by violating the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1001 et seq, (“ERISA”).

June 2006
June 9, 2006
  Class Counsel filed their papers in support of their petition for an award of attorneys fees, reimbursement of expenses, and an incentive award for the Class Representatives. As previously provided in the notice concerning the partial settlement with Northern Trust, they have asked for 20% of the total amounts recovered in all partial settlements in the litigation, including interest, for the 56,500 hours they have worked on the case, seek reimbursement of expenses in the amount of $874,902.74, and have asked the Court to award each of the Class Representatives an additional $7,000.00 for services to the classes in this case.
June 7, 2006
  The United States District Court in Houston has certified two classes in the litigation for trial on behalf of all persons who participated in the ESOP and Savings Plan during January 20, 1998 through December 2, 2001, appointed sixteen persons as the Class Representatives, and confirmed that Co-Lead Counsel and others are the attorneys for the classes.

April 2006
April 21, 2006
  Keller Rohrback announces Preliminary Approval of the $37.5 million dollar Enron Partial Settlement (plus interest, less attorneys’ fees and costs) to pay claims to all persons who were participants or beneficiaries in the Plans during the period from January 1, 1995 through December 2, 2001 (“Class Period”). The Partial Settlement resolves claims against The Northern Trust Company (“Northern Trust”), which allegedly breached its fiduciary duties by violating the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1001 et seq, (“ERISA”).

December 2005
December 28, 2005
  Keller Rohrback announces FINAL APPROVAL of the $1.25 million Partial Settlement (less attorneys’ fees and costs) to pay claims to all persons who were participants or beneficiaries in the Plans during the period from January 1, 1995 through the Effective Date of the Settlement (“Class Period”). The Partial Settlement resolves claims against Arthur Andersen LLP and David B. Duncan (“Andersen”), who allegedly breached their fiduciary duties by violating the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1001 et seq, and for negligence.

October 2005
October 31, 2005
  Keller Rohrback announces Preliminary Approval of the $1.25 million Partial Settlement (less attorneys’ fees and costs) to pay claims to all persons who were participants or beneficiaries in the Plans during the period from January 1, 1995 through the Effective Date of the Settlement (“Class Period”). The Partial Settlement resolves claims against Arthur Andersen LLP and David B. Duncan (“Andersen”), who allegedly breached their fiduciary duties by violating the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1001 et seq, and for negligence.

September 2005
September 12, 2005
  Keller Rohrback Announces Final Approval of the recent Partial Settlement in the Enron class action lawsuit brought by Plaintiffs on behalf of the Enron Corp. Savings Plan (401K), the Enron Corp. Employee Stock Ownership Plan (ESOP) and/or the Enron Cash Balance Plan (the “Plans”) against Enron for breaches of fiduciary duty under ERISA.
September 2, 2005
  Objections to Partial Settlement:  1 / 2 / 3 / 4

August 2005
August 25, 2005
  Plan of Allocation for Settlements to Date

July 2005
July 28, 2005
  Keller Rohrback Announces Preliminary Approval of $356.25 million dollar Partial Settlement in the Enron class action lawsuit brought by Plaintiffs on behalf of the Enron Corp. Savings Plan (401K), the Enron Corp. Employee Stock Ownership Plan (ESOP) and/or the Enron Cash Balance Plan (the “Plans”) against Enron for breaches of fiduciary duty under ERISA. The Partial Settlement will allow a claim in Enron’s bankruptcy proceedings in the amount of $356.25 million (less attorneys fees and expenses) to the Settlement Class. Because there is uncertainty with respect to the amount to be ultimately distributed with respect to allowed unsecured claims and when the distributions will occur, named plaintiffs have obtained a commitment (subject to approvals by the Department of Labor and the Independent Fiduciary) to purchase the allowed claim for 27.35% of its face amount ($97,434,375) in cash, which at the time of the Fairness Hearing they will ask the Court to authorize the transfer of the allowed claim. Click here for more information.

May 2005
May 24, 2005
  A partial settlement has been approved in a class action lawsuit brought by Plaintiffs on behalf of the Enron Corp. Savings Plan (401k), click here for more information.

May 2004
May 13, 2004
A partial settlement has been proposed in a class action lawsuit brought by Plaintiffs on behalf of the Enron Corp. Savings Plan (401k), click here for more information.

January 2004

Plaintiffs filed the Second Amended and Consolidated Complaint on January 2, 2004. A stipulation was agreed to among parties to change the filing deadline from December 1, 2003, as initially ordered by the Court, to January 2, 2004.

Second Amended and Consolidated Complaint (706kb, PDF)

September 2003
Order on Motions to Dismiss (9/30/03)

On September 30, 2003, Judge Harmon ruled on the many pending motions to dismiss, filed by each of the defendants, asking the court to dismiss all of the claims against each of them. We are pleased that the Judge upheld the core ERISA claims. These issues will proceed towards trial. On the other hand, the judge dismissed the RICO claims against the banking institutions. At this time we are performing a detailed review of the decision and evaluating our legal options. We intend to file an Amended Complaint, pursuant to the Court’s order, on December 1, 2003.

Read Judge Harmon's Order (13.8mb, PDF)

July 2003

Preliminary approval of settlement with Anderson entity (7/24/03)

The Court preliminarily approved a settlement with Andersen Worldwide Societe Cooperative, the Swiss umbrella entity for Andersen’s partnerships around the world. AWSC is now in receivership. This is the first settlement reached in the consolidated actions. The amount of the settlement, $40 million, will be divided between the ERISA and securities plaintiffs at a later date if the Court gives its final approval for the settlement. The proposed settlement does not resolve any of the claims against Arthur Andersen, LLP, the United States entity that audited Enron. Notification of the proposed settlement is being mailed and published to persons who were participants in the ERISA plans at issue in the litigation. That notice describes the proposed settlement in full.

Notice of Pendency and Partial Settlement of Class Action 7/24/03
Scheduling Order (7/11/03)

The United States District Court in Houston, Texas set a new schedule for the completion of the consolidated cases related to Enron. Those cases include the ERISA litigation and the actions for securities fraud. Under that schedule, unrestricted discovery of documents has commenced, depositions on the merits of plaintiffs’ claims will begin on January 10, 2004, and fact discovery will continue through December 17, 2004. Trial is scheduled for October 17, 2005.

June 2003

Order to mediate claims against banks (6/16/03)

The Court, together with the Court overseeing Enron’s bankruptcy, ordered the plaintiffs in the ERISA and securities cases to mediate the settlement of their claims against the investment banks before The Honorable William C. Conner, Senior United States District Judge, Southern District of New York. The mediation encourages, but does not require, the parties to settle their claims. The mediation will take place over the coming months on a schedule determined by Judge Conner.

October 2002

Motion for Class Certification (10/2/02)

Plaintiffs filed a motion seeking the certification of a class consisting of Enron employees who were participants in the Enron Corp. Savings Plan, the Enron Corp Employee Stock Ownership Plan, the Cash Balance Plan or who received "phantom stock" as compensation.

August 2002
Department of Labor's Amicus Brief (8/30/02)

The United States Department of Labor filed a brief with the court stating that Enron executives could be held personally liable for millions of dollars in retirement losses.

April 2002
First Amended Consolidated Complaint (4/8/02)

The amended complaint names additional defendants, people and entities believed to be responsible for the damages incurred by current and former Enron employees, including investment bankers, corporate attorneys and Andersen entities.

The law firms of Keller Rohrback L.L.P., Keller Rohrback P.L.C. and Campbell, Harrison & Dagley L.L.P. maintain this website to keep class members informed and up to date regarding the proceedings in the Tittle, et al v. Enron Corp., et al, 401(k) litigation.

Keller Rohrback L.L.P. is headquartered in Seattle, WA, with an affiliated office in Phoenix, and specializes in complex litigation and class actions such as ERISA 401(k) litigation. Our Complex Litigation Group pursues large-scale litigation that few other plaintiff-oriented firms have the experience or resources to handle. We are a national leader in using technology in the preparation and trial of complex cases. Keller Rohrback and its co-counsel serve as lead or co-lead counsel in numerous nationally prominent class actions on behalf of employee retirement plan participants in 401(k) plan litigation, including, among others, in cases against: Lucent Technologies, Enron, WorldCom, Global Crossing, Williams Companies, Xerox, CMS Energy, BellSouth, CIGNA Corp., Dynegy, BellSouth, HealthSouth, Household, Goodyear, Polaroid, Mirant, and Syncor. We regularly advise corporations on ERISA matters and we are proud of our reputation for aggressive advocacy. The Complex Litigation Group has enjoyed great success in prosecuting class action cases in which the claims of many victims are aggregated to obtain maximum recovery. Keller Rohrback's Complex Litigation Group has recovered billions of dollars in damages for our clients.

Campbell, Harrison & Dagley L.L.P. is a Houston, Texas, based law firm whose trial lawyers handle a wide variety of complex commercial cases involving business torts, securities, trust and probate, professional malpractice, intellectual property, banking, partnership, contract, consumer and employment issues. The firm's trial lawyers have successfully handled class action litigation involving securities fraud, audit malpractice, employee stock rights, and allegations of race discrimination.

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