Any payment to investors will be delayed, potentially for years, until the securities lawsuits against the brokerage firms are resolved.

The Court also overturned, on separation-of-powers grounds, a 1991 law that revived a group of securities lawsuits.

For the firms, being selected was a coup because of changes in 1995 in Federal law involving class-action securities lawsuits.

Lawyers typically file class-action securities lawsuits on behalf of the shareholders in a company after the price of its stock has plunged.

A group of former employees added to the company's woes on Monday by filing a securities lawsuit on top of another suit filed last week.

Securities lawyers need not ponder second careers just yet, but a recent study says the filing rate for securities lawsuits has plummeted since 1995.

Andersen partners have some reason to be nervous, as well, because plaintiffs bringing securities lawsuits against the firm may sue individuals next.

In addition, the bill says, "such securities lawsuits impose additional costs on publicly traded companies, often force them into bankruptcy and create job losses within the economy."

The firm is also still negotiating to settle the securities lawsuits filed by Enron shareholders against Andersen.

If those suits go forward, they could lead to a test of recent protections for auditors in such class-action securities lawsuits.