NEW YORK, July 3 (UPI) -- A new plan to settle fraud charges against WorldCom could mean a record $750 million for shareholders who lost money.
The revised plan, proposed by the Securities and Exchange Commission and subject to court approval, represents an increase of 50 percent in the amount that would be paid shareholders by MCI, as the company is now called, the Wall Street Journal said.
A third of that money would be in the form of stock in MCI.
In May, MCI and the SEC agreed to a $500 million fine, a sum that was already a record by far. However, U.S. District Judge Jed S. Rakoff, who is presiding over the case, had expressed concerns the original sum wasn't enough and should include stock.
