Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: Bryan Steffen who started this subject	12/11/2001 7:49:29 PM
From: ms.smartest.person	Read Replies (1) of 1433

Florida Pension Fund to Sues Enron The Associated Press Tuesday, December 11, 2001; 7:18 PM TALLAHASSEE, Fla. ?? Florida's government employee pension fund will sue Enron Corp. to try to recoup millions of dollars in investment losses, an official said Tuesday. The retirement fund, which invests the pensions of teachers and state and county workers, was holding about 7 million shares in Enron before the energy giant filed for bankruptcy. The fund may lose "a couple hundred million dollars" because of the collapse of the company's stock, said Lee Baldwin, investment communications manager for the State Board of Administration, which manages the fund. But retirees will get their full pensions. The fund has $94.4 billion. "It was a very small percentage of the total fund assets," Baldwin said. "It is very fiscally sound." Enron spokeswoman Karen Denne would not comment Tuesday. Before the company's stock began to drop in October, it had sold for at least $20 a share for most of the year, reaching $85 at one point. But it closed Tuesday at 72 cents a share. © 2001 The Associated Press washingtonpost.com

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