A WorldCom Settlement Falls Apart
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A landmark settlement that had 10 former WorldCom directors agreeing to pay $18 million from their own pockets was scuttled on Wednesday.
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The $8 billion buyout of audio-equipment maker Harman International Industries collapsed yesterday, the first major private-equity deal to unravel since the current credit turmoil began and a sobering sign for other big takeovers in the works.
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The BBC&#39;s worldwide reputation for accuracy took a blow yesterday after it broadcast an interview with a hoaxer who claimed to offer a $12bn settlement to the 120,000 surviving victims of the Bhopal disaster.
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Ten former WorldCom board members   agree to pay $54m (Â£28.85m) to settle their part in a class action lawsuit brought by investors, reports say.
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Frontline Communications has gone out of business. A payment of $128 million to proceed with its bidding in government spectrum auctions was due last week.
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It was less than two years ago that Wall Street analysts Jack Grubman and Henry Blodget paid $19 million in fines and were banned from the securities industry for life to settle allegations that they'd promoted stocks like WorldCom and Global Crossing as the telecom companies swan-dived into an empty swimming pool. Shortly after that, in April 2003, 10 of ...
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A federal judge Friday approved Citigroup Inc.&#39;s $2.6 billion settlement with WorldCom Inc. investors who lost billions when an accounting scandal plunged the telecommunications company into bankruptcy protection.
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Layoffs signal a major setback in the company's effort to break free of its dying dial-up business and become an Internet player.
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Firm announced plans to make TV chips in January, but 10 months later, the project gets scratched.
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After five years of stepped-up post-Enron-WorldCom oversight, are we in the midst of a regulatory retreat?
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The company has decided to leave the public markets.
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It's the 1990s, and this hospital is replacing dumb terminals with Windows PCs and networked printers. Everything is going fine as a young contract IT guy sets up the equipment -- until it all starts to collapse.
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An antitrust lawsuit against the guardian of the ICANN is thrown out.
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Qwest, the US telecoms company founded by Millennium Dome entrepreneur Philip Anschutz, will pay $250m (Â£140m) to settle civil fraud charges, according to a union official briefed on the pact.
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James Packer's Publishing & Broadcasting had its credit rating cut a notch by Moody's Investors Service after selling its media assets to a venture owned with the buyout firm CVC Asia-Pacific.
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NEW YORK -- The former controller of WorldCom Inc. testified yesterday that former chief executive Bernard Ebbers apologized to him in 2000 after company accountants were forced to cover up more than $800 million in expenses. David Myers said he encountered Ebbers in October 2000 at the company's Mississippi headquarters, days after he and other accountants had devised a plan ...
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Insurers are disappearing from the market.