WorldCom Settlement Passes Key Judicial Test

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WorldCom Inc. cleared a major legal hurdle yesterday when a federal judge in New York approved a $750 million settlement that would resolve the Securities and Exchange Commission's fraud case against the nation's second-largest long-distance...

WorldCom Mulls Name Change to Leave Scandal in Past

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WorldCom by any other name may still be bankrupt, but the company that's become synonymous with questionable accounting wants to dump its tarnished brand and will likely adopt the name of its MCI residential long-distance...

Judge approves WorldCom, EDS settlement

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A settlement of long-term disputes over billing and an outsourcing agreement between WorldCom Inc. and Electronic Data Systems Corp. (EDS) was approved Monday by a U.S. federal bankruptcy judge. The agreement calls for...

WorldCom suffers widespread internet outage

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WorldCom, which runs the major backbone network that routes traffic over the Internet, said it suffered a widespread outage on Thursday that cut off some businesses for most of the work day and slowed Web...

WorldCom Controller Pleads Guilty

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NEW YORK, Sept. 26 -- WorldCom Inc.'s former controller pleaded guilty today to charges that he manipulated accounting to inflate profits and then tried to cover it up, moving federal prosecutors a step closer in...

WorldCom to axe 2,000 jobs in Europe

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Struggling WorldCom Inc. will cut about 2,000 jobs in its Europe, Middle East and Africa (EMEA) unit and discontinue some niche services in a bid to make the business cash flow positive by next year,...

Nasdaq delists WorldCom

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Troubled telecommunication carrier WorldCom Inc. Monday said it will be delisted from the Nasdaq Stock Market before the opening of trading on Tuesday. The Nasdaq Listing Qualification Panel sent a letter to the...

WorldCom files for bankruptcy protection

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WorldCom on Sunday filed Chapter 11 bankruptcy protection in the largest U.S. insolvency after the long-distance telephone and data services company buckled under a $3.85 billion accounting scandal and a mountain of "junk-rated" debt. ...

Ebbers Resigns as WorldCom Chief Executive

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Bernard Ebbers, the brash executive who built WorldCom Inc. into one of the top telecommunications companies, has resigned, bowing to a plummeting stock price and government probes into accounting issues and personal loans he received....

'Harmless' targets WorldCom

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Internet backbone provider MCI WorldCom has acknowledged that network-intrusion specialist Adrian Lamo used a security hole in a company Web server to grant himself access to its administrative network. The quizzical hacker...

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