Lay Among Those Released from Enron Investor Suit

By  | 

A federal judge has granted a request by former shareholders and investors suing Enron to drop several individuals and firms from their lawsuit.

One of the individuals dropped is deceased company founder Kenneth Lay.

The Regents of the University of California are the lead plaintiffs in securities litigation against Enron and several banks. Plaintiffs are suing investment firms and global banks they claim played key roles in the Enron collapse. The lawsuit, set for trial in April, is seeking billions of dollars in damages.

A spokesman for the lead plaintiffs says the decision to remove these individuals and firms from the lawsuit was made because it was unlikely investors would be able to recoup any money from them.