© 2022 Connecticut Public

FCC Public Inspection Files:
WEDH · WEDN · WEDW · WEDY · WNPR
WPKT · WRLI-FM · WEDW-FM · Public Files Contact
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Citigroup to Pay $2.65 Billion in WorldCom Settlement

Citigroup agrees to pay $2.65 billion to settle a class-action suit brought by investors over its role in the WorldCom scandal. Citigroup's Salomon Smith Barney issued optimistic research reports on WorldCom and helped it raise money by selling its securities. The money will be paid to those who held company shares between 1999 and 2002, when the telecom giant declared bankruptcy. NPR's Jim Zarroli reports.

Copyright 2004 NPR

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

Stand up for civility

This news story is funded in large part by Connecticut Public’s Members — listeners, viewers, and readers like you who value fact-based journalism and trustworthy information.

We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. As a community-supported public media service, Connecticut Public has relied on donor support for more than 50 years.

Your donation today will allow us to continue this work on your behalf. Give today at any amount and join the 50,000 members who are building a better—and more civil—Connecticut to live, work, and play.

Related Content