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Citigroup agrees to settle fraud suit
From Wire ReportsNEW YORK - In the first significant shareholder settlement since Enron Corp. collapsed more than three years ago, Citigroup Inc. has agreed to pay $2 billion to investors who accused the bank of aiding Enron in its huge accounting scandal by selling the...Tags: Stock Market, Financial and Business Services, Business Enterprises, NYSE, Financially Distressed Companies
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Some companies restate finances
Associated PressInvestors jarred by a wave of accounting scandals were jostled by smaller ripples Wednesday, as several big companies restated their finances against a deadline to swear to the accuracy of financial reports. After waiting until the last minute, scores of...Tags: Hunt Valley, Stock Market, Magellan Health Services Incorporated, Qwest Communications International Incorporated, McCormick & Company Inc.
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The Enron collapse: A year later
The Associated PressA year after Enron Corp.'s facade as a thriving global energy behemoth began to crumble publicly, only remnants remain of the heady days in the 50-story headquarters where the rich and powerful once ruled. No one uses former chairman Kenneth L. Lay's...Tags: Criminals, Houston Astros, Prosecution, Employees, Financially Distressed Companies
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WorldCom heads toward bankruptcy amid outrage
From Staff And Wire ReportsWorldCom Inc. teetered yesterday toward what would be the largest bankruptcy in U.S. history after shocking Wall Street -- and the White House -- with yet another corporate scandal: $3.8 billion in expenses hidden from investors. U.S. stocks plunged --...Tags: Consumers, Tyco International Limited, Business Enterprises, Tom Daschle, Michael G Oxley
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Bush says U.S. to investigate WorldCom
Associated PressPresident Bush on Wednesday called reports that WorldCom Inc. disguised $3.9 billion in expenses "outrageous" and said the government "will fully investigate and hold people accountable." Bush said he feared a pending bankruptcy would hurt "not only...Tags: Stock Market, Tyco International Limited, Business Enterprises, Financially Distressed Companies, Defense
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Andersen was WorldCom auditor
Tribune staff reporterWorldCom Inc., the nation's No. 2 long-distance phone company, stunned already reeling investors late Tuesday by disclosing what may be the largest case of accounting deception in U.S. history -- a $3.8 billion sleight of hand designed to boost profits....Tags: Columbia University, Qwest Communications International Incorporated, Finance, Stock Market, Business Enterprises
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Another big loser: campaign coffers
Los Angeles TimesAs telecommunications giant WorldCom Inc. tumbles toward almost certain bankruptcy, the campaign finance industry that fuels politics on Capitol Hill is in danger of losing yet another multimillion-dollar player. In the last decade, WorldCom, its MCI...Tags: Arthur Andersen, Campaign Finance, Finance, WorldCom Incorporated, Trent Lott
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Company used basic fraud tactics, experts say
Associated PressWhat did Arthur Andersen know, and how could it have approved financial statements full of corporate chicanery? The questions that arose in Enron Corp.’s meltdown have surfaced again with WorldCom Inc. And while Andersen blames WorldCom for the latest...Tags: Waste Management Incorporated, Arthur Andersen, Waste, Finance, Corporate Crime
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Defense advisory chief Perle resigns
Associated PressWASHINGTON - Former Pentagon official Richard Perle resigned yesterday as chairman of a group that advises Secretary Donald H. Rumsfeld on policy issues, saying he did not want a controversy over his business dealings to distract from Rumsfeld's...Tags: Defense, Death, Central Intelligence Agency, Bankruptcy, Wars and Interventions
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More firms on brink?
Times staff writersWorldCom Inc.'s mammoth bankruptcy filing Sunday could prolong the telecommunications industry's long and painful implosion by dragging teetering companies over the brink with it. More than three dozen telecom firms have already landed in Bankruptcy...Tags: Qwest Communications International Incorporated, Nortel Networks Corporation, Berkshire Hathaway Incorporated, Level 3 Communications Incorporated, Financially Distressed Companies
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Firm may be in for a grilling on Capitol Hill
WASHINGTONWorldCom Inc., once the toast of Washington, will get a tougher reception this month when it comes to Capitol Hill to face inquires about its accounting scandal. Through a series of broken promises and political missteps, WorldCom has managed to squander...Tags: Tampa, George Miller, Finance, WorldCom Incorporated, Computer Networking and Internet
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Firm asks to pay big severance pacts
Associated PressWorldCom Inc. is seeking bankruptcy court approval to pay remaining severance benefits to employees it laid off or gave notice before it filed for bankruptcy. The company had sought authority to pay severance obligations only up to $4,650 per dismissed...Tags: AFL-CIO, Employees, Financially Distressed Companies, Trials, Manhattan (New York City)
Jun 11, 2005
|Story| Baltimore Sun
Aug 14, 2002
|Story| Associated Press
Oct 14, 2002
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Jun 27, 2002
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Jun 26, 2002
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Jun 26, 2002
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Jun 27, 2002
|Story| Los Angeles Times
Jun 27, 2002
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Mar 28, 2003
|Story| Baltimore Sun
Jul 22, 2002
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Jul 1, 2002
|Story| Los Angeles Times
Sep 4, 2002
|Story| Associated Press
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