(A) 1996 to 2001: Enron is the darling of Wall Street; share price rises; Fortune magazine calls Enron “America’s Most Innovative Company” for six consecutive years.
(B) 1999 to mid-2001: Enron executives and directors receive $1.1 billion by selling 17.3 million shares.
(C) April 17, 2001: Enron reports first quarter profits of $536 million.
(D) August 14, 2001: Jeffrey
K. Skilling abruptly resigns as chief executive,
citing “personal reasons,” Mr. Lay reassume the
position of CEO.
(E) August 20, 2001: Kenneth Lay sells 93,000 shares for about $2 million. At the same time, he urges employees to buy company shares, sends an e-mail to employees assuring them that the company is on solid footing, and predicts "significantly higher stock price.”
(F) September 26, 2001: In an online chat with employees, Mr. Lay says that Enron stock is a good buy and that the company’s accounting methods are “legal and totally appropriate.”
(G) October 16, 2001: Enron reports a third-quarter loss of $618 million.
(H) October 22, 2001: The Securities and Exchange Commission opens an inquiry into Enron’s accounting.
(I) December 2, 2001: Enron files for bankruptcy protection.