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WorldCom's SEC Penalty Approved
U.S. Bankruptcy Judge Arthur Gonzalez approved a $750 million settlement between WorldCom Inc. and the Securities and Exchange Commission that resolves a historic civil fraud suit and breaks new ground in bankruptcy law. The fine, approved at a hearing late Wednesday, Aug. 6, is the SEC's largest ever against a public company and is the first to make use of provisions in the Sarbanes-Oxley Act.Trending Stories
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