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...

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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