Properties (61)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
legal case
|
| gptkbp:caseTypes |
02 Civ. 3288 (DLC)
|
| gptkbp:court |
gptkb:New_York_City
gptkb:Bernard_Ebbers gptkb:WorldCom,_Inc. gptkb:United_States_Attorney's_Office gptkb:Scott_Sullivan |
| gptkbp:date |
April 2004
|
| gptkbp:decidedBy |
gptkb:United_States_District_Court
|
| gptkbp:economicImpact |
$11 billion
|
| https://www.w3.org/2000/01/rdf-schema#label |
United States v. WorldCom
|
| gptkbp:impact |
corporate governance reforms
|
| gptkbp:involvedCountries |
gptkb:Securities_and_Exchange_Commission
gptkb:Federal_Bureau_of_Investigation |
| gptkbp:involves |
gptkb:United_States
WorldCom |
| gptkbp:legalStatus |
restitution
criminal charges securities fraud civil penalties |
| gptkbp:notableEvent |
gptkb:Sarbanes-Oxley_Act
gptkb:Public_Company_Accounting_Reform_and_Investor_Protection_Act |
| gptkbp:notableFeature |
impact on investor confidence
highlighted importance of ethical decision-making in business. affected stock market regulations examined consequences of corporate malfeasance examined impact of corporate culture on ethics examined role of auditors in corporate governance examined role of executives in financial reporting examined role of technology in financial reporting examined whistleblower protections high-profile corporate fraud case highlighted need for regulatory oversight highlighted risks of deregulation increased focus on ethical leadership increased penalties for corporate fraud increased scrutiny of corporate governance influenced future corporate investigations influenced investor protection laws influenced regulatory changes influenced training for corporate executives inspired reforms in auditing practices landmark case in accounting standards led to changes in corporate accountability led to criminal convictions led to reforms in financial disclosures public awareness of corporate fraud raised questions about corporate ethics emphasized need for transparency in financial statements led to increased demand for corporate governance experts highlighted_importance_of_internal_controls influenced_public_perception_of_corporate_America |
| gptkbp:notablePerson |
gptkb:Bernard_Ebbers
gptkb:Scott_Sullivan |
| gptkbp:outcome |
settlement
|
| gptkbp:precedent |
accounting standards
|
| gptkbp:relatedTo |
gptkb:Enron_scandal
|
| gptkbp:typeOf |
accounting fraud
financial statement fraud |
| gptkbp:year |
2002
|
| gptkbp:yearEstablished |
July 2002
|