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Enron by the Numbers

As the final bills come due, the big winners in Enron's demise are—surprise!—the lawyers.

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Six years after Enron's collapse, lawyers are salivating over a potential $1.5 billion in fees, the biggest such payout in history. A Texas judge in Enron's securities class-action case is now considering a fee request amounting to 9.5 percent of the more than $7.2 billion that attorneys have recouped for investors. The lead firm's asking rate averages out to a truly startling $2,379 per hour. Enron's bankruptcy case has already netted fees and expenses of more than $725 million. Add to that a $20 billion claim against Citigroup, set to go to trial in April, and disgraced C.E.O. Jeff Skilling may emerge as the legal profession's all-time greatest rainmaker.

Securities Class-Action Case

Newby v. Enron

Sought: $688,000,000

Pages of documents reviewed by all prosecuting lawyers: 70,000,000

Hours billed by lead law firm, Coughlin Stoia Geller Rudman & Robbins: 248,804

Potential payout to Coughlin Stoia: $592,000,000

Bankruptcy Case

Fees and expenses paid to lawyers and accountants as of January 2008: $725,000,000

Hours billed by lead law firm, Weil Gotshal & Mange: 391,820

Fees paid to Weil Gotshal: $149,000,000

Photocopying expenses: $5,400,000

Sources: Legal Cost Control; court filings.


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