Famous Trials: Enron (Lay & Skilling) Trial (2006)

In 2000, Enron was the darling of Wall Street, the largest seller of natural gas in North America, the fifth largest corporation in the United States, and the nation's "most innovative" large company (according to Fortune magazine). By the end of November 2001, Enron's stock price had fallen from over $90 per share to just pennies. On December 2, 2001, the company filed for bankruptcy. In the wake of Enron's downfall, federal investigators discovered evidence of corporate arrogance, greed, and fraud of an unprecedented level. In 2006, the two highest ranking Enron executives involved in the scandal, Ken Lay and Jeff Skilling, facing charges of fraud, insider trading, and conspiracy, would have their fates determined by a Houston jury. Prosecutors hoped their verdict would send a message to corporate America.