WorldCom Issued Restraining Order
June 28, 2002
WorldCom's plan to layoff 17,000 employees commenced today only hours after a judge issued a restraining order directing company officers as well as Arthur Anderson officials not to destroy information pertaining to the recent fraud allegations. The documents were delivered to WorldCom's headquarters in Clinton, Mississippi as well as Arthur Anderson's office in Jackson.
Earlier this year, Enron Corporation was accused of shredding pertinent documents regarding its accounting practices after it was accused of investor fraud by the Justice Department. WorldCom, the nation's second largest long-distance provider, revealed Tuesday it had overstated its earnings by nearly $4 billion.
-- Article Courtesy of InjuryBoard.com
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