Fergie's Tech Blog

Ebbers Tries to Settle Shareholder Lawsuit

Carrie Johnson and Ben White write in The Washington Post:

Convicted former WorldCom Inc. chief executive Bernard J. Ebbers is negotiating to settle a class-action lawsuit filed by investors in the nation's second-biggest telecommunications firm for an undisclosed sum, according to lawyers involved in the case.

Former WorldCom finance chief Scott D. Sullivan and two other officials who pleaded guilty to participating in a widespread accounting fraud at the Ashburn company also are taking part in the settlement talks, lawyers said.