washingtonpost.com  > Technology

Quick Quotes

Page 5 of 5  < Back  

WorldCom Company Timeline

* Oct. 13: AT&T Corp. agrees to drop objections in federal bankruptcy court to portions of WorldCom Inc.'s reorganization plan.

* Oct. 14: WorldCom Inc. announces the appointment of a chief ethics officer who will report directly to the chief executive.

_____MCI Coverage_____
Bernard Ebbers Guilty on All Counts (The Washington Post, Mar 15, 2005)
Preparing for the Worst With MCI's Best (The Washington Post, Mar 13, 2005)
No Verdict in Ebbers's Trial (The Washington Post, Mar 12, 2005)
Story Archive and Company Background

* Oct. 15: A federal bankruptcy judge in New York hears the last remaining objections to WorldCom Inc.'s plan for reorganization.

* Oct. 21: The federal judge overseeing WorldCom's bankruptcy case has ordered the company to respond to the concerns of a small group of creditors who object to the plan.

* Oct. 31: U.S. Bankruptcy Judge Arthur J. Gonzalez approved WorldCom Inc.'s reorganization plan.

* Dec. 22: Federal prosecutors say they intend to show that former WorldCom Inc. chief financial officer Scott D. Sullivan was involved in 13 kinds of accounting fraud in addition to the financial wrongdoing with which he is charged.

2004:

* Jan. 7: The government lifts a five-month suspension that had kept WorldCom from receiving new federal contracts.

* Jan. 12: Company officials say WorldCom is putting the finishing touches on three years of financial restatements but should emerge from bankruptcy protection by a court-imposed deadline of Feb. 28, 2003.

* Jan. 15: Sources confirm that WorldCom is planning to lay off an additional 1,700 employees, about 3 percent of its workforce.

* March 15: WorldCom becomes the latest in a string of companies to split the jobs of chairman and chief executive.

* April 20: MCI officially emerges from bankruptcy, 21 months after filing the largest Chapter 11 case in history.

* May 10: MCI says it will eliminate 7,500 jobs, or 15 percent of its workforce.

* Aug. 12: The Justice Department gives a New York investment firm permission to acquire a controlling stake in MCI Inc.

* Sept. 28: A private buyout firm that had said it was seeking to take control of MCI Inc. sells its 5 percent stake in the long-distance giant.

2005:

* Jan. 8: The lead plaintiff in the WorldCom class-action suit formally announces a $54 million settlement covering 10 former WorldCom directors.

* Jan. 19: Jury selection begins in the trial of WorldCom's former chief executive, Bernard J. Ebbers.

* Jan. 25: Opening statements are heard in the trial of Bernard J. Ebbers.

* Feb. 2: A federal judge rejects part of a groundbreaking settlement in which 10 former WorldCom directors agreed to pay $54 million to settle a shareholder lawsuit.

* Feb. 14: Verizon Communications Inc. announces a $6.75 billion deal to buy MCI Inc.

* March 15: Former WorldCom Inc. chief executive Bernard J. Ebbers is found guilty of conspiracy, securities fraud and making false filings with regulators.


< Back  1 2 3 4 5

© 2005 Washingtonpost.Newsweek Interactive