Nasdaq WorldCom trading to resume; MCI remains halted
However, trading in shares of its consumer long-distance telephone service unit, MCI Group (NasdaqNM:MCITE - News), would remain halted until additional information is provided about the status of MCI's dividend payment.
The Clinton, Mississippi-based company faces charges of fraud for accounting irregularities that allowed it to hide more than $3.8 billion in operating expenses over the past five quarters -- making it one of the largest accounting scandals in U.S. history. The scheme allowed it to mask $1.2 billion in losses over the period.
WorldCom shares lasted traded on June 25, when they closed at 83 cents. MCI shares closed at $1.68 the same day.