Enron Settlement

By: Associated Press
By: Associated Press

Former energy giant Enron has agreed to pay more than one and a-half (b) billion dollars to settle claims of price gouging.

California and other western states had accused the now bankrupt company of tactics that drove the price of energy in 2000 and 2001 to eye-popping levels.

California Attorney General Bill Lockyer says the settlement will end market-manipulation and price-gouging claims against Enron.

Lockyer says the deals allows the state to -- as he put it -- "squeeze juice from this corporate turnip." He says "all things considered, this is a good resolution."

The deal still has to be approved by federal regulators.


WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 1700042 - wtvy.com/a?a=1700042
Gray Television, Inc.