Heute Kursexplosion bei Worldcom?? - 500 Beiträge pro Seite

[Wallgrekk]

WorldCom agrees to pay $500M in SEC fine
By Andrew Backover, USA TODAY
WorldCom and the Securities and Exchange Commission have reached a final settlement that would force the phone company to pay $500 million to victims of its $9 billion accounting scandal, people familiar with the matter say.

Much of the restitution is likely to go to shareholders, who have already lost tens of billions of dollars and are expected to get wiped out by the reorganization plan.

http://www.usatoday.com/money/industries/telecom/2003-05-18-…





Akt. 0.054 +5,9%

[spekulativ]

werde mal ein auge drauf werfen,glaube aber nicht wirklich daran.gruß speku

[Rasi]

würde gerne mitzocken, aber nicht hier!!!

vielleicht wird der kurs ja trotzdem hochgezockt!

[Wallgrekk]

Worldcom 0,055 +7,9%

[spekulativ]

in ffm ging gerade ein block von 150k zu 0,55 weg.

[chstuermer]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Hyper03]

Was geht denn jetzt? In 15 Minuten wurde die Hälfte des bisherigen Tagesvolumen gekauft.

Sollte man einsteigen oder nicht. Vom Chart her könnte ein ausbruch bevorstehen.

[spekulativ]

ich bin mal dabei,scheint interessant zu werden

[Wallgrekk]

Source: WorldCom Close to SEC Settlement




May 19
— By Jessica Hall

PHILADELPHIA (Reuters) - WorldCom Inc. <WCOEQ.PK> is close to a settlement with the U.S. Securities and Exchange Commission that would resolve charges it fraudulently misled investors and would require it to pay one of the largest fines ever levied by the agency, a source familiar with the situation said on Sunday.

The settlement would remove a major hurdle for the bankrupt telephone and data services company, whose accounting scandal is expected to top $11 billion. It also will likely ease its emergence from Chapter 11 bankruptcy, legal experts have said.





WorldCom, which is changing its name back to MCI, declined to comment. SEC officials could not be immediately reached.

Business Week`s online edition reported on Friday that WorldCom and the SEC could announce a settlement as early as Monday. WorldCom, without admitting or denying the fraud allegations, had reached a partial settlement with SEC in November. As part of that deal, WorldCom agreed to refrain from future securities violations and establish new training programs to prevent future problems.

WorldCom`s fine is expected to be "several times larger" than the $10 million fine levied against Xerox Corp. <XRX.N> in 2002, the source said. Wall Street firms recently agreed to pay $1.4 billion to settle charges with securities regulators over research practices.

The SEC, which regulates financial markets, charged WorldCom in June with fraud and alleged the company manipulated its financial records at least as early as 1999 to meet Wall Street expectations. WorldCom is expected to restate more than $11 billion in earnings.

The Ashburn, Virginia-based company, which still faces shareholder lawsuits, recently filed a reorganization plan that will cut its debt to a range of $3.5 billion to $4.5 billion, down from $41 billion, and give its creditors control of the company.

Since its bankruptcy filing in July, WorldCom has hired a new chairman and overhauled its management team and board. The company`s former chief financial officer, Scott Sullivan, has been charged with securities fraud, conspiracy, and making false statements about WorldCom`s financial health in SEC filings.

Four other former WorldCom executives pleaded guilty to securities fraud and have agreed to cooperate with authorities probing the case. WorldCom, which aims to emerge from bankruptcy later this year, also is cooperating with the investigation.

Two reports reviewing WorldCom`s past accounting practices have been delayed at the request of prosecutors, who claimed that early public disclosure of the information may harm their criminal investigations of former Chief Executive Bernie Ebbers and other former WorldCom executives, according to court filings. The reports are expected to be filed in June.


Copyright 2003 Reuters News Service. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

[Wallgrekk]

Scheint alles auf eine
gute Lösung für die Aktionäre hinzudeuten!!!


May 19, 2003, 6:07AM

SEC nearing settlement of WorldCom fraud suit
By STEPHEN LABATON
New York Times
WASHINGTON -- The Securities and Exchange Commission is close to announcing a settlement with the long-distance and Internet company MCI, formerly WorldCom Inc., resolving the largest fraud lawsuit the agency has ever brought against a company, people involved in the case said Sunday.

The size of the settlement could not be learned Sunday night.

The terms of the deal, expected to be announced soon, would depart significantly from past cases of this type by setting up a fund for shareholders who were defrauded by the company. Another fund would be set up for creditors of the company, which has been operating under Chapter 11 bankruptcy protection since last summer.

The SEC sued the company last June, a day after WorldCom announced that it had misstated its financial results by $3.8 billion -- an amount that, after subsequent disclosures, now exceeds $11 billion. The suit said the company had defrauded investors by manipulating its bookkeeping to meet Wall Street`s expectations.

The following month the company, the nation`s second-largest long-distance company after AT&T and a large carrier of Internet traffic, sought bankruptcy protection.

The company and the commission submitted a preliminary settlement of the suit last November to Judge Jed Rakoff of U.S. District Court in Manhattan, who was overseeing the fraud case. At the time, WorldCom executives had indicated they hoped the company might avoid paying any money. But the SEC, which lately has taken a hard line on corporate fraud, reserved the right to come back to Rakoff requesting a fine.

People involved in the case said that the settlement would depart significantly from previous bankruptcy cases involving accusations of securities fraud. Normally, most of the money recovered in such cases goes either to the government in the form of a penalty or to the debt holders, who have priority over shareholders in Chapter 11 proceedings.

But a provision of the relatively new Sarbanes-Oxley Act gives the commission broader authority to direct money that might otherwise be given to the government to shareholders instead. The law was adopted after the government filed the lawsuit, but the SEC has recently invoked it even in some instances where the suspected fraud occurred before the law`s passage.

[Hyper03]

Wenn die alten Aktien werthaltig bleiben, dann....

Hab mir mal inzwischen paar gekauft.

[Wolframit]

@Hyper-wenn das Wörtchen wenn nicht wär... dennoch alles Gute

[Hyper03]

...eben, mal sehen. Mehr wie schief gehen kann es net. Liege doch beim Werk gut im Plus.

[Wallgrekk]

Akt. 0.056 +9.8%!

[spekulativ]

es wird bestimmt noch besser heute,denke das dies erst der anfang ist.

gruß spekulativ

[Hyper03]

Naja, der Kurs wird in den Staaten gemacht, bald wissen wir mehr.

[Hyper03]

Aha er steigt!

[spekulativ]

geht doch schon gut los

[jetti]

[Hyper03]

Fast nur Käufe aus dem ask....

[Wallgrekk]

Sieht wirklich gut aus!!

09:37:47 0.065 30500 OTC BBS at Ask
09:37:47 0.065 90000 OTC BBS at Ask
09:37:47 0.065 15000 OTC BBS at Ask
09:37:46 0.065 3800 OTC BBS at Ask
09:37:41 0.065 10000 OTC BBS
09:37:37 0.064 1400 OTC BBS at Ask
09:37:37 0.063 12000 OTC BBS
09:37:36 0.063 200 OTC BBS
09:37:26 0.064 1000 OTC BBS at Ask
09:37:17 0.064 25000 OTC BBS at Ask

[Hyper03]

09:44:26 0.068 140000 OTC BBS at Ask
09:44:16 0.068 12000 OTC BBS at Ask
09:44:06 0.068 5000 OTC BBS
09:43:37 0.066 10000 OTC BBS
09:43:36 0.066 50000 OTC BBS
09:43:30 0.066 10000 OTC BBS
09:43:26 0.067 10000 OTC BBS at Ask
09:43:22 0.066 1400 OTC BBS
09:43:19 0.067 15000 OTC BBS at Ask
09:43:19 0.067 5000 OTC BBS at Ask

[Wallgrekk]

WOW!

Das Teil geht ab wie eine Rakete!!

[spekulativ]

Wallgrekk
die ist doch gerade erst dabei warm zu laufen.
Wenn sie abgeht,wird es noch schöner werden.

Gruß spekulativ

[Indexking]

bin auch dabei



DER KING

[warus]

Ich auch

[Hyper03]

Gut das wir mal drüber geredet haben.

[Wallgrekk]

Reuters
Source: WorldCom to Settle SEC Charges
Monday May 19, 2:48 pm ET
By Jeremy Pelofsky and Jessica Hall


WASHINGTON/PHILADELPHIA (Reuters) - WorldCom Inc. (Other OTC:WCOEQ.PK - News) will pay $500 million to settle securities charges it fraudulently accounted for about $11 billion and an announcement is expected later on Monday, a source familiar with the situation said.
ADVERTISEMENT


The Securities and Exchange Commission had charged last June that the U.S. No. 2 long-distance telephone and Internet data services company manipulated financial records, including improperly accounting for capital spending, at least as far back as 1999 to meet Wall Street expectations.

WorldCom`s bankruptcy lawyer, Marcia Goldstein, of the firm Weil, Gotshal & Manges, confirmed on Monday that the company had reached a settlement with the SEC. She did not elaborate on the size of the fine.

An SEC spokesman declined to comment.

The settlement, which would be one of the largest ever imposed by the SEC, would still need approval by a federal judge. U.S. District Judge Jed Rakoff in New York overseeing the WorldCom case has scheduled a 3 p.m. hearing on Monday.

Resolving the SEC charges would remove a big legal cloud over WorldCom, which filed for bankruptcy in July after being rocked by the accounting scandal and amassing some $41 billion in debt. It still faces numerous shareholder lawsuits.

The SEC and WorldCom reached a partial settlement of the fraud charges last November, but left for another day deciding the size of the penalty. The company neither admitted nor denied wrongdoing in the initial settlement.

Federal prosecutors and securities regulators have also filed fraud charges against WorldCom`s former Chief Financial Officer Scott Sullivan, who has denied wrongdoing. Former Chief Executive Officer Bernie Ebbers is under investigation, but has not been charged.

The Ashburn, Virginia-based company had about $3.3 billion in cash on hand at the end of March and hopes to emerge from bankruptcy with as little as $3.5 billion to $4.5 billion of debt by the fall.

The size of the penalty eclipses the $400 million paid by Citigroup`s brokerage unit, which did so to settle inquiries into its research practices. Previously, Xerox Corp. (NYSE:XRX - News) had paid the largest fine assessed on a non-broker/dealer, $10 million, for accounting problems.

"An enormous fine is justified since the accounting entries were made over an extended period of time and were of an egregious and indefensible nature," said Christopher Bebel, a partner with Shepherd Smith & Bebel PC in Houston and a former prosecutor.

"However, the executives who orchestrated the scheme are gone and the shareholders have been wiped out, so this burden falls on the creditors," he said.

WorldCom has weathered the high-profile scandal and bankruptcy, including winning new government contracts such as a recent one to build a wireless network in Iraq. It also has sold some non-core assets.

The company hired a new chairman and overhauled its management team and board. The company plans to change its name back to MCI once it emerges from bankruptcy protection.

"It was only last summer that we were wondering whether they would even survive, now with the settlement at hand, they can put this chapter behind them and focus on competing in the marketplace," said Jeff Kagan, an independent telecommunications analyst.