Enron scandal
Enron's shareholders filed a lawsuit of $40 billion after the stock price of the company went from US$90.75 to less than $1 in November 2001. This meant the shareholders lost almost all of their money. Dynegy tried to buy Enron for a low price, but this didn't work so Enron went bankrupt on December 2, 2001 under Chapter 11 of the United States Bankruptcy Code. This was the largest bankruptcy in U.S. history at $63.4 billion in assets. This was not passed until the WorldCom scandal in 2002.