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Six Directors to Resign from Enron's Board.
Knight Ridder/Tribune Business News, February, 2002
By Katie Fairbank, The Dallas Morning News Knight Ridder/Tribune Business News
Feb. 13--Six directors of Enron Corp. will resign from the bankrupt company's board within 30 days, following in the footsteps of former chairman and chief executive Kenneth Lay.
The news came in a corporate filing with the Securities and Exchange Commission, along with an acknowledgement by Houston-based Enron that it has too much debt and its stock is worthless.
"The existing equity of the company has and will have no value," Enron said. The company added that shareholders are unlikely to get any money from their stock, which closed down 0.5 cent at 33.7 cents a share in over-the-counter trading on Tuesday, a far cry from the $90 a share it hit in August...
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