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Four more Wall Street firms have reached a settlement with former shareholders and bondholders of WorldCom.
In the latest deal, Goldman Sachs(GS Quote), Lehman Brothers(LEH Quote), Credit Suisse First Boston(CSR Quote) and UBS(UBS Quote) agreed to pay a combined $100 million into a growing settlement fund. The four investment firms were the lead underwriters on a May 2000 bond offering by the telecom firm, now called MCI(MCIP Quote).
The announcement of the latest settlements comes a day after Bank of America(BAC Quote) agreed to pay $460 million in restitution in the massive securities fraud class action. Nearly a year ago, Citigroup(C Quote) reached a $2.65 billion settlement with the investors. ...
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