University of California adds four to Enron lawsuit

The University of California continues to add plaintiffs to its lawsuit against Enron. RBC, Goldman Sachs and two law firms are now facing the university’s wrath. By Paul Lyon

The University of California (UC) last month filed complaints in the US District Court for the Southern District Court of Texas in Houston, adding the Royal Bank of Canada (RBC) and two prominent law firms to a growing list of defendants accused of securities fraud in connection with the Enron debacle.

The UC also alleges that Goldman Sachs violated Section 11 of the Securities Act of 1933, which is not a fraud claim. Under Section 11, underwriters of securities may be liable without proof

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