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SEC Hits $500M In WorldCom Distribution

Law360 (June 15, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has passed the $500 million mark in its distributions to the former shareholders of WorldCom Inc. affected by the massive accounting fraud at the company uncovered in 2002.

The SEC disclosed on Thursday that it had reached the half-billion mark and said that the agency expects to distribute the remaining $250 million in settlement funds later this year.

“We are pleased that investors defrauded by WorldCom have received over a half-billion dollars from our Fair Fund,” said Peter H. Bresnan,...
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