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12/07/2011 10:55:31 AM EST

Judge Rules That Investors Lack Standing To Sue Financial Institutions

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HOUSTON - Investors lack standing to file a lawsuit against 15 financial institutions and their affiliates for their alleged roles in concealing the Enron Corp. scandal, a federal judge in Texas ruled Nov. 29 in dismissing the investors' first amended complaint and denying them leave to amend (Ravenswood Capital -1, LLC, et al. v. Citigroup Inc., et al., No. 04-4520, S.D. Texas; 2011 U.S. Dist. LEXIS 136989). Full story on lexis.com