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Telecommunications giant WorldCom agreed Wednesday to refrain from selling the stock of any of its domestic units for 80 days in return for some breathing room to operate. A federal judge in New York approved a stipulation between WorldCom and 25 banks and other institutions in a suit charging that WorldCom drew down a $2.65 billion line of credit while company officials were aware that an accounting fraud scandal was about to break.
July 18, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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