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Calling it "a model perhaps of what should be attempted" in cases of large-scale corporate fraud, U.S. District Judge Jed Rakoff in New York on Tuesday approved a settlement between WorldCom and the government over the company's $9 billion accounting scandal. Still pending before Rakoff is the question of how much the bankrupt telecommunications giant will pay in fines. The SEC declined to say how large a fine it planned to seek.
December 02, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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