Enron

An American corporation based in Houston , Texas , that traded in energy and filed for Chapter 11 bankruptcy in December 2001. Enron's collapse stunned most investors and analysts because Enron, the seventh largest corporation in the United States, had long reported huge earnings. Subsequent investigations revealed that Enron had inflated its earnings by hiding its debt and losses in subsidiary partnerships. Although some of the company's top executives made huge profits as Enron fell apart, many of its employees saw their retirement savings in Enron's 401(k) plan wiped out by the collapse of Enron's share price.

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Notes

Enron's collapse raised many questions about the reliability of corporate financial statements and the potentially cozy relationships between accountants and the firms they audit.

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Example Sentences

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Mooney and co-writer Evan Winter fuse the “let’s throw a big party” plot formula to “The Terminator” for their “Y2K” script, but it also feels like they just wrote down everything they could remember from the late ’90s and threw it at the wall: Enron, the “Macarena,” PalmPilots, Limp Bizkit, the swing revival.

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The obstruction charge uses a section of Sarbanes-Oxley, a law passed in the wake of the Enron scandal and subsequent cover-up, that prosecutors broadly applied to any obstruction of an official proceeding.

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Alex Gibney is the Academy Award, Grammy, and Emmy Award-winning director, writer, and producer of "Taxi to the Dark Side," "Enron" and "Going Clear," among many other films and countless accolades.

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William H. Donaldson, who made an early fortune as a co-founder of the innovative securities firm Donaldson, Lufkin & Jenrette and later pushed for tighter financial regulation as chairman of the Securities and Exchange Commission in the wake of the Enron and WorldCom accounting scandals, died on Wednesday at his home in Westchester County, N.Y.

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After the stock market boom of the late 1990s, Americans were stunned and angered to learn that the energy firm Enron and telecommunication-services provider WorldCom had used accounting trickery to inflate their reported profits.

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