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SAMSON INVESTMENT COMPANY v ARTHUR ANDERSEN LLP Click to find out why . . .



Keywords & Phrases
CaseNo: SICVAAL251673, CourtCode: DIS, CourtName: IN THE DISTRICT COURT IN AND P X, Plaintiff: SAMSON INVESTMENT COMPANY, State: OK Oklahoma, UniqueCaseRef: LCD>SICVAAL251673, Class Members, Samson, Enron, Audits, Damages, Negligence, Audit Data, Accounting, Exercise, Auditing Services, Performing, Competence, Contracts, Alleges, Informat, Public Filings, Misrepresent, Befendant, Proper, Ofthe, Relief, Conspiracy, Financial Condition, Entering, Representatiin, Earnings , ContentID: 120250198

Case Documents
1 2002-01-15 PETITION
[ see first page and extracted highlights below  ] ItemID: 124050
11 pages
PDF
Total Documents: 1 document , 11 pages
Price: $ 19.95


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1 . PETITION

EXTRACTED KEY WORDS
SAMSON
DEFENDANT
ENRON
AUDITS
DAMAGES
NEGLIGENCE
AUDIT DATA
ACCOUNTING
EXERCISE
AUDITING SERVICES
PERFORMING
COMPETENCE
CONTRACTS
ALLEGES
INFORMAT
LAW
PUBLIC FILINGS
MISREPRESENT
PLAINTIFF
BEFENDANT
PROPER
COURT
OFTHE
RELIEF
CONSPIRACY
FINANCIAL CONDITION
ENTERING
REPRESENTATIIN
EARNINGS
                  IN  THE  DISTRICT          COURT  IN  AND  P&X                                   
                                                                                 TULS,+
                                           STATE  OF  OKLAHOMA                                     
SAMSON  INVESTMENT                 COMPANY,
a Nevada  Corporation,  on  bchnlf  of
themselves  and  other  similarly  situated
individuals,

                           Plaintiffs,

VS.

ARTHUR  ANDERSEN  L.L.P.,


                           befendant.



         Plaintiff  Samson  Investment  Company("$amson"),  fdritselfand  as repkentativc  ofa 
                                                                        I                   I
of similarly  situated  individuals  in the State ofOklahoma  (collectively  "Waintiffs"),  for
                                                                                            I ,
against  bcfendant  Arthur  Andersen  L.L.P.  ("Defendant'),  allege  as follows:



         1.       Samson  is a Nevada  corporation  with  its pri&pal  place  of busmess
                                                                                            1      
                                                                                                   

Plaintiffs  bring  this action  on behalfofthemselves  and all  othei  similarly  situate!  per$Qns
                                                                                            \
of Oklahoma,  pursuant  to  12 0.S.  4 2023.                                                I
                                                                        , I'
        2.       bcfendant  is  a  limited  liability  partnership!  with  partners                

Oklahoma.



        3.       Jurisdiction  is proper  pursuant  to  12'0s.  fi 2&4(F).

        4.       Venue  is proper  pursuant  to  12 O.S.  §fi  131,  157.



                                   CLASS  ACTlON  ALLEt%  L IONS

SNIPPETS:
  • Plaintiff Samson Investment Company,
  • Venue is proper pursuant to 12 O.S. §fi 131,
  • auditing services provided to Enron Corporation,
  • Samson has been informed and believes, and An such informat 3n and belief alleges,
  • that the Class Members number more than 100 and reside in&verse geograph:;a1
  • involved and thhal many Class Members will never have their day in court unlcs~ this actioa
  • against Defendant and to the claim of each of the Class Members against Defendant.
  • The claims of Samson are typical ofthe claim$~ofeach and all ofthe Class Members
  • Defendant's acts alleged herein are applicable to all Class Members, making the relief
  • The questions of law and faot common to the claims of Samsdn against DefendaTlt
  • The financial audits and resulting financialma{enals prepared byDefendant forpublic
  • Defendant failed to exercise reasonable car k or competence `in obtaining aTld or
  • negligence, or negligence; or alternativelyto make full and pubhc chsclosurekhen the Defendant
  • public failed to correctly reflect the financial condition of Ernon,
  • The actions of the befendant as described herein are the
  • direct cause of the damages suffered by Plaintiff and others similarly situated.
  • particularly where Defendant knew that Defendant's audits vj Ibuld form the basis for public
  • Defendant, in performing audits for Enron, fail' L to exercise the degree of care, skil1,
  • and competence exercised by competent members of the i,
  • audit data that Defendant prepared in business relationships,ki th Enron.
  • as a result of lkron's mismanagement, significant debt, and accounting irregularities thal
  • members have suffered actual damages as a result of enterin b into the contracts with a
  • and class members relied upon the Pefmdarfs representatiin that EIIJO~ was a financially
  • Samson and class members relied upon Pefen h `ant's audits in entering into contracts
  • representatives of Enron to fraudulently misrepresent Enro d 8's financial condition in
  • earnings reducing earnings by over $500 million for the p&d 1997 forward;
  • both the result of and in furtherance of a conspiracy with Ee.
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