WorldCom on Track After Partial Settlement

WorldCom emerged from a partial settlement with federal prosecutors firmly on track to present its reorganization plan this spring.

Just four months after the failed telco made the biggest-ever Chapter 11 bankruptcy filing, WorldCom and the Securities and Exchange Commission laid out the latest developments in a Tuesday afternoon courthouse press conference. The company has escaped financial penalties for now, though prosecutors left the door open to fines when they make recommendations to the court this spring.

WorldCom agreed to five key terms in the first-stage settlement with prosecutors. Under the agreement, the company: ...