Not a really good analogy as Enron was out and out fraud with many of the principals doing hard time in jail (except for Kenneth Lay who died). It wasn’t a lack of due dilligence which cost investors billions on Enron. It was fraud. On Facebook, I agree, very much a lack of due dilligence, many of the investors were expecting huge returns without doing their DD. I have no pity for them as I do for Enron investors who were LIED to. Different stories.
Why in the world would a pension fund manager use funds for this type of speculation. Seems to me the wrong plantiffs are suing the wrong defendants.
The stock market is full of risky investments. There is no FDIC protections for this type of speculation.
I know of many large pension fund managers that invested heavily in Enron. Their employees are now suffering from their lack of due diligence.
Not a really good analogy as Enron was out and out fraud with many of the principals doing hard time in jail (except for Kenneth Lay who died). It wasn’t a lack of due dilligence which cost investors billions on Enron. It was fraud. On Facebook, I agree, very much a lack of due dilligence, many of the investors were expecting huge returns without doing their DD. I have no pity for them as I do for Enron investors who were LIED to. Different stories.
As in most types of similar situations, the real winners of all this litigation will be the stinking lawyers!!!!