Office of the Attorney General News Release Archive
Thursday, January 31, 2002
TEXAS ATTORNEY GENERAL'S OFFICE SEEKS TO RECOVER LOSSES INCURRED BY STATE FUNDS
AUSTIN - The Texas Attorney General's Office today joined the shareholder securities class action lawsuits against Enron Corporation, its directors and officers, and Arthur Andersen. The State joins others suing to recover losses to pension and investment funds. The Attorney General's Office filed on behalf of the Employees Retirement System and the Teacher Retirement System of Texas, along with the state comptroller's office and its Texas Tomorrow Fund. Together, those funds lost a total of more than $60 million as a result of their investments in the energy company.
The notice of appearance, filed in the U.S. District Court in Houston, formally announces the State's intent to participate in the litigation against those whose actions resulted in the sudden collapse of the company's stock.
"By appearing in these lawsuits, our goal is to recover the money that the State has lost," said Deputy Attorney General Jeff Boyd. "Our objective is to ensure that those who engaged in improper or illegal actions are required to compensate the investors they have harmed."
Boyd leads the agency's Enron Task Force, which was created in December 2001 to represent the State's interests in response to Enron's collapse.
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(Note: The notice of appearance is styled Mark Newby v. Enron Corporation, et al, Civil Action No. H-01-3624 and was filed in U.S. District Court, Southern District of Texas, Houston Division)
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