MCI Inc.: Difference between revisions
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The US [[Securities and Exchange Commission]] launched an investigation into these matters on [[June 26]], [[2002]] (See [[accountancy scandals]]). |
The US [[Securities and Exchange Commission]] launched an investigation into these matters on [[June 26]], [[2002]] (See [[accountancy scandals]]). |
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On [[July 22]], 2002 the [[BBC]] reported that WorldCom has filed for bankruptcy protection. |
On [[July 22]], 2002 the [[BBC]] reported that WorldCom has filed for [[Chapter 11 bankruptcy protection]]. |
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External links: |
External links: |
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Revision as of 00:10, 22 July 2002
WorldCom (WCOM) is the United States' second largest long distance phone company (AT&T is the largest). WorldCom grew largely by acquiring other telecommunications companies, most notably MCI. It also owns the Tier 1 ISP UUNet, a major part of the Internet backbone.
In June, 2002, an internal audit discovered that US$3.7 billion had been 'misaccounted.' The US Securities and Exchange Commission launched an investigation into these matters on June 26, 2002 (See accountancy scandals).
On July 22, 2002 the BBC reported that WorldCom has filed for Chapter 11 bankruptcy protection.
External links: