Enron Shareholders to Pursue Documents

Enron Corp. shareholders say they will use part of a recent $40-million settlement to pursue incriminating documents in the possession of the energy trader, its investment banks and other defendants.

Investors plan to finance a document depository in Houston and reimburse their lawyers for about $3 million in expenses with their share of a $15-million fund carved out of a settlement with Andersen Worldwide, a defendant in the Enron suit, lawyer William Lerach said. He is the lead counsel for shareholders and bondholders who claim they lost $30 billion from Enron’s misstatement of income.

Part of the settlement, to be shared with employees who lost about $3 billion on Enron stock held by their pension funds, will pay investigators, Lerach said.