BusinessCompany NewsWorldCom investors receive millions

WorldCom investors receive millions

WorldCom investors to receive millions of dollars in settlement from investment banks.

Investors who lost money in WorldCom are set to receive $100m (£52.2m), after four investment banks agreed to make a settlement.

Link: The WorldCom trial

Lehman Brothers will pay $63m, while CSFB, Goldman Sachs and UBS will pay $12.5m each – according to lead plaintiff New York State Common Retirement Fund.

The Bank of America has already agreed to pay $460m to settle its own part of the lawsuit.

Investors had claimed that banks selling WorldCom bonds should have been aware that the business was covering up its parlous financial condition.

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