Enron

1. 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.

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.

Example Sentences

And finally, Max explains how a parody of Enron that turned into a memecoin fiasco.

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Over the next two years, markets were also shaken by serious scandals after company officers falsified returns to feed the market frenzy, bankrupting a half-dozen major corporations, including WorldCom, the country’s second-largest telephone company; Enron, a top energy corporation with revenues of $100 billion and Adelphia, a prominent cable television provider with over two million subscribers.

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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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