For Immediate Release:
July 27, 2007

ENRON VICTIMS CALL ON SEN. CORNYN TO ASK PRESIDENT BUSH TO STAND WITH THEM BEFORE U.S. SUPREME COURT

-- Texas Victims to Hold Press Conference in Houston To Urge Sen. John Cornyn to Support Their Efforts to Hold Enron’s Banks Accountable for Their Role in the
Largest Financial Fraud in U.S. History --

When: Monday, July 30 at 11 a.m./CT

Who: Former Enron shareholders

What: Former Enron Shareholders, who were victims of the worst financial fraud in American history, will call on Sen. Cornyn to support their efforts to hold the Enron Banks accountable for their role in the Enron scandal. The victims, many of whom lost their life savings, are asking Sen. Cornyn to ask the Bush Administration to stand with the victims and not the banks that helped Enron doctor its financial statements to show false profits.

The U.S. Supreme Court is scheduled to consider a case called Stoneridge Investment Partners, which considers the same question that will determine the Enron case: whether a third party company that is an active and knowing participant in fraud can be held liable for its actions even if it did not make any public statements about the fraud. This is a concept known as “scheme liability.” As Texas Attorney General at the time of the Enron tragedy, Sen. Cornyn spearheaded an effort by 27 Attorneys General to enforce scheme liability in the Enron case.

Amicus briefs are due August 15. The Enron investors ask that the Bush Administration not file an amicus brief on behalf of the Stoneridge defendants. The Enron shareholders’ last chance to fully recover the millions of dollars they lost depends on the outcome of the Stoneridge case. The Enron shareholders ask President Bush to support the unanimous position of the SEC, led by Chairman Christopher Cox, in support of scheme liability.

Where: Harris County New Civil Courthouse, Room 860

201 Caroline (between Franklin and Congress)-- Parking is at Congress & Caroline.

Courthouse is bldg 12 on this map: http://www.justex.net/DowntownMap.aspx.

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