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Enron's Law Firm Settles Legal Claim

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At a glance:

A Houston law firm has settled a dispute with Enron's bankruptcy estate and will pay $30 million to avoid a lawsuit over its alleged role in the Enron debacle. 
 
However the law firm is not completely off the hook, as it is still one of the defendants in a lawsuit by Enron shareholders. 
 
Some banks have settled with Enron in similar fashion, to avoid lengthy and costly litigation and the adverse publicity that accompanies the process. 
 

Vinson & Elkins settles with Enron for $30 million

Houston Chronicle - 6/2/2006 1:03 PM

Houston law firm Vinson & Elkins has agreed to pay $30 million to Enron Corp.'s bankruptcy estate to head off a lawsuit claiming it aided in the company's downfall.
 
In exchange for agreeing to the settlement, Enron's estate agreed to not pursue Vinson & Elkins in civil litigation known as "Megaclaims" that, in part, alleges that financial institutions "aided and abetted fraud" that contributed to the 2001 collapse of Enron
 
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