The lead plaintiff, University of California Board of Regents, has recovered more than $7.3 billion, including $2 billion or more each from Canadian Imperial Bank of Commerce, J.P. Morgan Chase (NYSE: JPM) and Citigroup (NYSE: C), but Merrill Lynch (NYSE: MER) and Credit Suisse Group (NYSE: CS), who are also named in the lawsuit, have asked a U.S. appeals court in New Orleans to rule that the complaint should not have been certified as a class action.

U.S. District Judge Melinda Harmon signed the final order, effectively ending the now defunct accounting firm's involvement in the $40 billion class-action lawsuit.

Arthur Andersen was convicted in June 2002 of obstruction of justice for its role in the Enron saga. The U.S. Supreme Court later overturned the conviction, but the accounting firm is now virtually out of business.