CRRA to Receive $16.25 Million Settlement Related to Enron Investment

Date: March 30, 2007

Source: News Room

Hartford Connecticut-based law firm Murtha Cullina LLP recently agreed to pay the Connecticut Resources Recovery Authority (CRRA) $16.25 million for its role in the agency's Enron scandal. The firm had served CRRA from the agency's creation in 1973 until 2000 when the agency made its il fated and unsecured $220 million investment in now defunct Enron Corp. CRRA accused the firm of failing its fiduciary duties. Unfortunately, the settlement does little to fill the gap left from the investment for which about $152 million has been recovered.

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