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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (61084)	2/28/2002 1:42:21 AM
From: StanX Long	Read Replies (1) of 70976

"OT", cheater ;0( Andersen Seeking Quick Settlement $750 Million Offered to Resolve Suits washingtonpost.com By David S. Hilzenrath and Susan Schmidt Washington Post Staff Writers Thursday, February 28, 2002; Page A01 Arthur Andersen is pushing hard to settle all claims over its Enron audits, offering a total payment of $750 million to cover civil lawsuits and seeking to persuade the Justice Department not to indict the firm. Andersen is focusing intensely on trying to get the Enron litigation behind it in as soon as two weeks, before corporations send out annual ballots asking shareholders to ratify their choice of independent auditors, a source close to the firm said. The firm has been saying its very survival could be at stake if it can't get the agreements -- under a cloud of possible civil and criminal sanctions, Andersen could have difficulty hanging on to its corporate clients and keeping its top talent from bolting to other firms. The accounting firm wants the civil settlement to include the Securities and Exchange Commission, which has the power to seek fines and restitution, along with Enron shareholders, creditors and employees who held Enron stock in 401(k) retirement plans, lawyers for plaintiffs said.

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