Now charged by the US Justice Department of obstruction of justice due to alleged actions taken in connection with audit work the firm did with Enron, Andersen is after an early trial in an attempt to stem the flow of deserting clients.
The firm would be in danger of collapse should a trial date be set far off in the future. Andersen representatives are due to make an initial court appearance on the charges Wednesday and will be asking for the trial to take place within 2 weeks.
Listed below are details of 20 clients that no longer use Andersen as auditor or for consulting work:
Abbott Laboratories
Sara Lee Group
Kerr-McGee
Introgen Therapeutics
Kos Pharmaceuticals
Riggs National
FedEx
Delta Air Lines
Freddie Mac
Advanced Enviromental
Harris & Harris
Merck
Paxar
EOG Resources
MDU Resources
Buyers United
Corinthian Colleges
SunTrust Banks
Advance PCS
Hard Rock Hotel
Andersen Seeks Early Trial
As the Wall Street Journal pointed out last week, 'in the 212-year history of the US financial markets, no major financial services firm has ever survived a criminal indictment.'
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