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University of Calif. in Enron suit
graphic February 15, 2002: 6:54 p.m. ET

University system named lead plaintiff in class action against energy trader.
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NEW YORK (CNN/Money) - A district court judge named the University of California Friday as lead plaintiff in a shareholder class action lawsuit against collapsed Enron Corp. and its former auditor Arthur Andersen.

Judge Melinda Harmon, of the U.S. District Court for the Southern District of Texas, gave the "lead plaintiff" honors to the University based on losses it sustained and the University's ability to coordinate the litigation.

The University of California, which joined the class action in December, has lost $144.9 million based on the 2.2 million Enron shares it purchased. The current value of those shares stands at about $54 billion.

The University of California beat out a group including Florida, the City of New York and a four-state group comprised of Ohio, Washington, Georgia and Alabama.

The University will be using law firm Millberg Weiss Bershad Hynes & Lerach LLP. graphic




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