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Chapter 5. What it Meant to “Do the Righ... > Unethical, Unfair, but Illegal?

Unethical, Unfair, but Illegal?

Whether any or all of what was done by Enron and its executives was illegal is a matter that will concern the courts for years. Illegality will depend not only on the possible violation of specific regulations, but more generally—and regardless of the legality of specific actions—on whether or not there was intent by the company and its executives to conceal information and deceive investors.

Further, according to U.S. law, literal compliance with accounting principles is not a sufficient defense against prosection if it creates a fraudulent or misleading impression in the minds of shareholders.[29]


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