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The largest penalty ever assessed against a U.S. company by the SEC received the green light on Monday, as a federal judge in New York agreed that telecommunications giant WorldCom should pay $750 million. The judge's approval followed revisions concerning the penalty amount and measures for WorldCom to become "a good corporate citizen" in the wake of the multibillion-dollar accounting fraud that shredded its stock price and plunged it into bankruptcy last summer.
July 08, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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