By engaging in such improper conduct, WorldCom violated the anti-fraud, reporting, record-keeping, and internal controls provisions of the federal securities laws.

Jul 7, 2003 · In the case of WorldCom, Inc., we have perhaps the largest accounting fraud in history, with the company's income overstated by an estimated $11 billion, its balance sheet …

Aug 23, 2025 · Explore WorldCom's rise as a telecom giant, its massive accounting fraud that led to bankruptcy, and its enduring lessons on corporate accountability.

Jul 13, 2025 · The WorldCom scandal highlighted the essential need for good corporate governance, internal controls, and ethical leadership. The case illustrated how inadequate …

Finally, the company has agreed to impose all internal controls required by section 404 of the Sarbanes-Oxley Act by no later than June 30, 2004, a full year earlier than the Act requires.

Brief Fact Summary. Main plaintiffs in a securities class action alleged, inter alia, that underwriters did not implement sufficient due diligence, as deemed necessary by § 11, in assembly with …

The features associated with the WorldCom case clearly illustrate that corporate fraud is a reality in business and that ethics plays a critical function in any business.

"WorldCom's legal departments and its Internal Audit department were not structured in ways that would make them effective as a control of management wrongdoing.

Apr 29, 1999 · The Complaint alleges that WorldCom and others disseminated false and misleading statements to the investing public regarding the Company's earnings and financial …

Jun 8, 2022 · The already beleaguered WorldCom stock plunged, and the NASDAQ suspended trading when shares hit 9 cents. Meanwhile, the SEC and law enforcement authorities sprung …