The Communications Workers of America filed comments urging the U.S. District Court that is handling the WorldCom case to impose a civil penalty in the multi-billion-dollar range, instead of the prosposed $500 million partial settlement sought by the Securities and Exchange Commission. The CWA described the proposed settlement as "a slap on the wrist for a company that committed the largest case of corporate fraud in U.S. history by misstating its earnings by at least $11 billion."http://www.cwa-union.org
- On 19-May-2003, the Securities and Exchange Commission (SEC) announced a proposed settlement requiring WorldCom to pay a civil penalty of $1.51 billion for its fraudulent conduct. As a result of the company's pending bankruptcy case, the proposed settlement would be reduced to $500 million.
