Citigroup And JP Morgan May Be Sued

Lynn Sarko is a lawyer who is representing Enron employees. She confirmed on Thurday that her law firm is 'in the process of reviewing possible defendants, including banks, law firms and other entities.'

It may be difficult, however, for any group of litigants to sue either Citigroup or JP Morgan. Plaintiffs would have to prove that the banks had knowingly put their name to a document that defrauded shareholders or otherwise knowingly made a fraudulent statement.

The banks could also be liable if they were substantially involved in some Enron activity that was intended to deceive.

To date, there has been nothing to suggest that either bank has acted in such a manner.