Enron seems like a relic from a bygone era. But the securities class action that produced $6.6 billion in settlements from the Big E's adviser banks--and then crashed to earth with a decertification ruling from the Fifth Circuit--was still alive thanks to a new plaintiffs theory. Last week that theory took a body blow.

Private antitrust litigation related to LIBOR isn't over--not by a long shot. But on Friday 16 banks accused of manipulating the benchmark global interest rate dispelled any notion that they'd be easy targets for the plaintiffs bar.