March 21, 2005
WorldCom Board Pays Big for Ebbers' Errors
Being on a board is likely to become even more unpopular after the WorldCom settlement where WorldCom directors are paying their own money for the company's accounting problems.
An excerpt is here:
"landmark agreement by former WorldCom directors to pay millions of dollars of their own money to settle claims by investors has been revived about six weeks after it was scuttled by objections from other defendants in the case.
Under the terms of the settlement reached on Friday, 11 former WorldCom directors will pay $US20 million ($25 million) out of their own pockets to settle with Alan Hevesi, comptroller of New York and trustee of the state's Common Retirement Fund."
Click here for the complete article.
To keep your company out of trouble and increase transparency, learn more about Sarbanes-Oxley Compliance Playbook(tm) at www.issuescentral.com or call 416.977.1496 today.
An excerpt is here:
"landmark agreement by former WorldCom directors to pay millions of dollars of their own money to settle claims by investors has been revived about six weeks after it was scuttled by objections from other defendants in the case.
Under the terms of the settlement reached on Friday, 11 former WorldCom directors will pay $US20 million ($25 million) out of their own pockets to settle with Alan Hevesi, comptroller of New York and trustee of the state's Common Retirement Fund."
Click here for the complete article.
To keep your company out of trouble and increase transparency, learn more about Sarbanes-Oxley Compliance Playbook(tm) at www.issuescentral.com or call 416.977.1496 today.
