CGLÂ served as Washington Counsel in the Enron-related securities litigation In re Enron Corp. Sec., Derivative, which recovered over $7 billion on behalf of the injured parties, the largest recovery ever obtained for investors victimized by corporate fraud. With litigation led by the Regents of the University of California, the firm worked on a host of projects in this mammoth securities case.
We worked on a day-to-day basis with lead counsel on matters of critical importance to the case. The firm prepared memoranda on a number of specific legal topics, protected the interests of Enron investors before Congress, especially in the Congressional debate leading to the passage of the Sarbanes-Oxley Act in 2002, and consulted on many public and policy aspects of this litigation. Our firm wrote an amicus brief on behalf of a number of consumer organizations in a U.S. Supreme Court case that was related to the Enron case (StoneRidge Investment Partners, LLC v. Scientific-Atlanta, Inc. and Motorola, Inc.). We also assisted Enron class members in their efforts to persuade the U.S. government to take a pro-investor position in StoneRidge.