Andersen Appeal to go Before Justices in April
According to The Houston Chronicle, the United States Supreme Court announced this week it will hear arguments April 27 on whether to overturn the conviction of the Arthur Andersen accounting firm for obstruction of justice in the shredding of Enron documents.
The focus of the appeal will be on how the law was presented to the jury. A decision could come as early as June.
Last month the Supreme Court agreed to hear the appeal of the company's June 2002 obstruction of justice conviction. That was the good news.
Late in January, a federal judge in New York ruled against a motion to dismiss the class action suit brought against Andersen by WorldCom Inc. The WorldCom suit claimed that investors suing Anderson had "identified a host of audit failures," the Wall Street Journal reported in January 2005.
Andersen had served for nearly two decades as the auditor for WorldCom and its predecessor companies. After WorldCom disclosed accounting irregularities totally billions of dollars in 2002, Andersen withdrew its 2001 opinion on the company's annual report. Since emerging from bankruptcy last year, WorldCom has been known as MCI.
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