Thursday, March 10, 2005

WorldCom Bond Underwriters Scorecard

The Securities Litigation Watch blog has a very handy scorecard (here) of the settlements by investment banks that served as underwriters for WorldCom's various bond issues while it engaged in accounting fraud.  The total paid in the settlements so far is $3.564 billion, with Citigroup contributing the largest amount to date ($2.58 billion).  The latest to settle are: ABN Amro ($268 million), Mitsubishi ($75 million), BNP Paribas and Mizuho International ($37.5 million each). Among the defendants who have not settled yet are J.P. Morgan and the former directors of WorldCom, whose earlier settlement was not accepted by the judge. (ph)

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