Company
What is WorldCom?
Telecommunications company
Who was the CEO?
Bernard Ebbers
Name 2 documents they changed
Balance sheets, income statements, Form 10-K filing and/or annual reports
Did Scott Sullivan plead guilty?
Yes and received a 5 year sentence
MCI Communications
Chief financial officer and secretary
What did they do?
Filed expenses as investments
$180 billion
How many employees did WorldCom have?
30,000
Who long of a sentence is CEO serving?
25 years
What is a margin call?
Margin call means to tell a broker to invest additional money to cover any possible losses
By how much did the stock value go down by?
10 cents
What was WorldCom formerly known as?
LDDS
Name 3 players other than the CEO
Scott Sullivan, David Myers, Buford Yates, Betty Vinson, Troy Normand, Arthur Anderson, Jack Grubman, John Sidgmore and/or Cynthia Cooper
$400 million
How much was the stock value before dropping?
$60
How much was the merger between WorldCom and MCI Communications?
$37 billion
How long of a sentence did Scott Sullivan serve?
5 years
How much of a profit did they record in the first quarter of 2002?
$1.4 billion
Name the 4 groups/people who were majorly impacted