Newby v. Enron Corp.
Court of Appeals for the Fifth Circuit
1Opinion of the Court
PRADO, Circuit Judge:
In December 2001, Enron Corporation filed for bankruptcy. Seven years later, litigation involving the Enron collapse endures. Today’s decision presents another chapter in that story.
I. FACTUAL AND PROCEDURAL BACKGROUND
On October 16, 2001, Enron publicly announced that it had incurred a $683 million loss and was taking non-recurring charges of $1.01 billion after-tax in the third quarter of 2001. That week, the Wall Street Journal published a series of articles revealing that Enron and related entities had engaged in various fraudulent transactions. As a result, the price…
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