HOUSTON, May 12 (UPI) -- Attorneys announced an $85 million partial settlement Thursday in Houston in a class-action lawsuit filed by current and former Enron employees.
U.S. District Judge Melinda Harmon must still approve the settlement and it addresses only some of the claims made in the lawsuit, the Houston Chronicle reported.
Plaintiff lawyers are also claiming about $17 million, or 20 percent, of the proposed settlement as legal fees, according to the Chronicle.
In another case, there was a $1.5 million settlement with outside directors in a lawsuit filed by the Department of Labor. About 20 percent of those funds will go to the U.S. Treasury and the remainder into the employee retirement fund. This case is also not completely resolved.