[Inkie]

So true. Virtually all the "nefarious deeds" were part of the annual report in the Notes sections. If investors were not savvy enough to read AND UNDERSTAND these, then they were silly to invest without getting further advice. Even Enron had its off-balance-sheet and special-purpose-entity info in the Notes. That's why I wouldn't have invested in it; I could see this stuff. If I could, why couldn't other people? I'm an English major, for crying out loud!!!!! If I am not mistaken, WorldCom is the only one that just simply lied. Everyone else just was very clever in their modes of disclosure. I could be wrong here. As I said, I'm an English major so am a real amateur in this dept.

[terilyn]

The real kicker here is that Halliburton made this accounting change, and published that fact, in 1998.

These plaintiffs bought their stock in November of 2001, and February of 2002.

We need tort reform.