WorldCom Settles Employee Lawsuit
From Bloomberg News
MCI Inc., former WorldCom Inc. Chief Executive Bernard J. Ebbers and 18 ex-WorldCom executives agreed to pay about $51 million to settle a suit by employees who lost billions of dollars when the long-distance telephone company collapsed, lawyers for the employees said.
The pact leaves 401(k) fund trustee Merrill Lynch Trust Co. of America as the only active defendant.
The employees of WorldCom are seeking about $100 million from Merrill, their lawyers said.
