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On November 4, 1997, WorldCom and MCI Communications announced a $37 billion merger to form MCI WorldCom, making it the largest corporate merger in U.S. history. On September 15, 1998, the merger was consummated, forming MCI WorldCom. MCI divested itself of its "internetMCI" business to gain approval from the United States Department of Justice ...
The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time. From 1999 to 2002, senior executives at WorldCom led by founder and CEO Bernard Ebbers orchestrated a scheme to inflate earnings in order to maintain WorldCom's stock ...
In July 2002, WorldCom filed for bankruptcy protection in what was considered at the time as the largest corporate insolvency ever. [110] A month earlier, the company's internal auditors discovered over $3.8 billion in illicit accounting entries intended to mask WorldCom's dwindling earnings, which was by itself more than the accounting fraud ...
The docket sheet contains a chronological list of each filing and any associated documents (in PDF format) in the case. Each record includes the filing date, docket text, and a link to filed documents. Events can link to past events. Example docket text: "Hearing Held on #18 Motion for Relief from Stay to Proceed With Foreclosure Action Against ...
Learn how to download and install or uninstall the Desktop Gold software and if your computer meets the system requirements.
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U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar ...
The Complaint alleged that the WorldCom Retirement Plan administrators were WorldCom insiders who knew or had reason to know that the price of WorldCom stock was artificially high because public statements concerning the Company's business and prospects were false or misleading to investors. When the facts became public, the stock plummeted ...