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| 2002 News and Press Releases |
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HEADLINE ARCHIVED:
THE FALL OF ENRON; Judge Keeps Tight Leash On Trial Date; Shareholder Lawsuit In Brenham Postponed Until September
By: Mary Flood
The Houston Chronicle. January 08, 2003
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EXCERPT: BRENHAM - A Washington County judge Tuesday postponed a trial on an Enron shareholder suit until September, which would still make it the first such case to be tried. Defense attorneys had sought an even longer delay, claiming they could not be ready in less than a year. "You can't try this case in two weeks or two months," said Craig Smyser, a lawyer for former Enron Chief Financial Officer Andrew Fastow. "It's an immense financial and human problem." State District Judge Terry Flenniken disagreed. "I can tell you this. It is not going to be three or four months. This is no California." Attorney George Fleming wanted the judge to stick to his original trial date of March. Fleming represents about two dozen local investors who bought Enron stock after hearing then-Chairman Ken Lay extol the company at a Brenham business lunch. "We're ready to go," Fleming said. "We'll put Lay, (former CEO Jeff) Skilling, Fastow, (former Arthur Andersen partner David) Duncan and others on the stand." But going to trial in about eight weeks would seem to be impossible because a federal court order has frozen discovery proceedings for months. The Brenham case is still scheduled ahead of other major state and federal lawsuits. U.S. District Judge Melinda Harmon oversees a conglomeration of about six dozen Enron cases in two would-be class-action suits on behalf of shareholders and former employees. Harmon has already said she will be setting a new trial date, but it won't be in 2003. Fleming and his associate, G. Sean Jez, have been fighting for months to get their lawsuit in Brenham tried first. But the defendants - Andersen, Duncan and several Enron executives - have tried repeatedly to sidetrack it. They had the suit moved to federal court, but it was sent back twice. A federal judge was asked to enjoin it from moving ahead and a state judge to include it with other cases in Harris County. Both were denied.
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