Event
Collapse of Enron
Enron’s accounting troubles became public in 2001 and the company filed for bankruptcy that year.
- Dates
- 2001
Connections 2
involved
- Enron Primary record 1
- Arthur Andersen auditor Primary record 1
Timeline 1 date
- 2001 Collapse of Enron
Proof 1 source
-
Arthur Andersen LLP v. United States, 544 U.S. 696 (opinion of the Court, Rehnquist, C.J.), Supreme Court of the United States (text via Cornell LII), 31 May 2005.
Primary record
Enron filed for bankruptcy less than a month later.
That release disclosed a $1.01 billion charge to earnings.
The following day, the SEC notified Enron by letter that it had opened an investigation in August and requested certain information and documents.
As Enron Corporation’s financial difficulties became public in 2001, petitioner Arthur Andersen LLP, Enron’s auditor, instructed its employees to destroy documents pursuant to its document retention policy.
It is, of course, not wrongful for a manager to instruct his employees to comply with a valid document retention policy under ordinary circumstances.
Odom urged everyone to comply with the firm’s document retention policy.
These, and other smaller meetings, were followed by substantial destruction of paper and electronic documents.
Also on November 8, the SEC served Enron and petitioner with subpoenas for records.
Per Dave–No more shredding
the related information should not be destroyed
Page history 1 change
- Add 55 stories, each checked against its sources96e92fe6
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