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Pension Funds Win $78.9 M In WorldCom Suit

Law360 (October 19, 2005, 12:00 AM EDT) -- Five New York pension funds that sued WorldCom Inc. after the company’s collapse have reached a $78.9 million settlement with the fallen telecommunications company.

The five funds include pensions for city employees, educators, policemen and firefighters. The funds decided not to participate in the class-action suit that was settled earlier this year, believing that they would benefit more from separate litigation.

The funds lost more than $200 million due to their investment in WorldCom. $130 million of the loss was directly attributed to the fraud that...
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