Washington State

Office of the Attorney General

Attorney General

Bob Ferguson

WASHINGTON, D.C. - February 6, 2002 - Attorney General Christine Gregoire testified this morning at the Senate Judiciary Committee hearing "Accountability Issues: Lessons Learned From Enron's Fall."


Audio message from Attorney General Christine Gregoire:

Lawmakers asked Gregoire to speak about Washington's participation in a class action lawsuit against Enron.

"In Washington we feel like Enron has been the gathering of the perfect storm," Gregoire told the committee. "First they gouged our consumers and ratepayers with highly questionable power prices last year, and now, sadly, they have defrauded our investors and others across the nation."

Washington is part of a suit brought by investors in U.S. District Court in Houston. The state is attempting to recoup some of the more than $100 million lost from state pension funds invested in Enron stock.

Those funds support the pensions of 400,000 current and former public employees across the state. Taxpayers are ultimately responsible for ensuring that the retirement obligations to those employees are met.

Gregoire also testified about the state's ongoing investigation into potential manipulations of energy prices by Enron and other providers.