Why did MCI WorldCom fail?

Consequences. Following Cooper's report, the Securities and Exchange Commission (SEC) launched its own investigation into WorldCom's accounting and found that the company had overstated assets by a staggering $11 billion. At the time, it was the largest corporate accounting fraud case in US history.

WorldCom was a leading communications company that was acquired by Verizon Communications in January 2006. Known as MCI at the time of the merger, WorldCom's network assets are now part of Verizon Enterprise Solutions. WorldCom was originally founded in 1983 as Long Distance Discount Service, Inc.

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Orange California Private Line Service Agreement between MCI Worldcom Communications, Inc. and Telocity, Inc.

Name: Orange California Private Line Service Agreement between MCI Worldcom Communications, Inc. and Telocity, Inc.
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Corporations - Public - Services

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Orange

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US-EG-9124

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Private Line Service Agreement between MCI WORLDCOM Communications, Inc. and Telocity, Inc. dated October 18, 1999. 7 pages

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Worldcom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to inflate the company's assets.

Consequences. Following Cooper's report, the Securities and Exchange Commission (SEC) launched its own investigation into WorldCom's accounting and found that the company had overstated assets by a staggering $11 billion. At the time, it was the largest corporate accounting fraud case in US history.

WorldCom was a leading communications company that was acquired by Verizon Communications in January 2006. Known as MCI at the time of the merger, WorldCom's network assets are now part of Verizon Enterprise Solutions.

Since it was incorporated in 1972, the company that became WorldCom in 1995 used its common stock to acquire a succession of 20-odd local, long-distance, and Internet companies. Its $36.5 billion takeover offer valued MCI at nearly double the price the carrier had commanded just months before.

WorldCom Inc. collapsed and went into bankruptcy in 2002, following revelations of an $11 billion accounting fraud that included pressure by top executives on subordinates to inflate numbers to make the company seem more profitable.

In January 2006, the company, by then renamed MCI, was acquired by Verizon Communications and was later integrated into Verizon Business....MCI Inc. MCI logoTrade nameVerizon Enterprise Solutions Verizon BusinessFounded1983Defunct2006FateAcquired by Verizon Communications in 20068 more rows

MCI Communications Corp. (originally Microwave Communications, Inc.) was a telecommunications company headquartered in Washington, D.C. that was at one point the second-largest long-distance provider in the United States.

WorldCom was a telecommunications company that went bankrupt in 2002 following a massive accounting fraud. WorldCom remains the biggest accounting scandal in U.S. history as well as one of the largest bankruptcies.

MCI is a technology and BPO services company With a diverse customer base of almost 150 public and private sector clients, MCI is providing industry-leading software and workforces to meet modern omni-channel customer journeys.

Orange California Private Line Service Agreement between MCI Worldcom Communications, Inc. and Telocity, Inc.

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