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WorldCom
(redirected from LDDS)

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WorldCom
A telecommunications company that was at one time the second largest long distance provider in the United States. It had a large role in the expansion of Internet use in the 1990s. It is known for its notorious bankruptcy in 2002 following massive accounting fraud that resulted in several executives receiving jail sentences and investors losing billions of dollars. WorldCom is often associated with the Enron scandal because they occurred at about the same time and because both WorldCom and Enron used the accounting firm Arthur Andersen. It is now called MCI and is a subsidiary of Verizon.


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firms affected were AT&T, MCI WorldCom Inc, LDDS Communications, IDB Communications Group Inc.
AT&T, MCI, LDDS Communications, IDB Communications Group, and WilTel are awaiting a decision by Miami Judge James Lawrence King on whether the money may be garnisheed in partial payment for a US$187 million judgment against Cuba for the 1996 downing of Hermanos al Rescate airplanes (see NotiSur, 1996-03-15, EcoCentral, 1998-11-05).
Four years ago not many people on Wall Street had heard of LDDS Communications (NASDAQ symbol: LDDS), a small Southern long-distance telephone carrier.
 
 
 
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