Early Approval Granted for Ebbers’ Settlement
From Associated Press
A federal judge gave preliminary approval Monday to a civil suit settlement under which former WorldCom Inc. chief Bernard J. Ebbers would forfeit nearly all his cash and personal assets -- as much as $45 million.
The deal, which springs from a suit filed by former investors, will leave a modest Mississippi home for Ebbers’ wife and about $50,000.
“Basically we left them with their furniture and the silverware,” said Sean Coffey, a lawyer for New York state Comptroller Alan Hevesi, the lead plaintiff in the investor suit.
