Houston ? The University of California was designated Friday as the lead plaintiff in a massive securities-fraud lawsuit against current and former Enron Corp. officials.

Large investors and individual shareholders have joined the class-action lawsuit seeking to recover the more than $1 billion company officials gained in stock sales before alleged accounting abuses led to the company’s implosion.

“We take up this responsibility with the deepest sense of obligation not only to the UC family of employees, retirees and students, but to the millions of Americans who invested in good faith with Enron,” said James E. Holst, the university’s lead attorney.

As lead plaintiff, the university will have more power to direct the case but won’t be entitled to a bigger judgment.

U.S. District Judge Melinda Harmon granted the status to the university.