Law Offices of Gary Martin Hays & Associates
P.C.
75 Ponce De Leon Ave NE Ste 101
Atlanta,
GA 30308(470) 294-1674
www.garymartinhays.com
Ten former WorldCom Inc. board members have reportedly agreed to pay $18 million from their own pockets to settle a class action by investors in the scandal-tarred telecom giant. The board members' agreement -- equal to one-fifth of their personal net worth -- is part of a $54 million settlement, with insurers covering the rest of the tab. The settlement, which could set a precedent, would be unusual because executives often rely on insurers to foot the bill for civil securities liabilities.
January 07, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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