A story in the online edition of the Wall Street Journal early Tuesday, citing people familiar with the talks, reported an agreement has been outlined in the accounting fraud case against WorldCom (WCOEQ) and a deal could be announced in the next week or two.

Representatives from WorldCom could not be reached early Tuesday to comment on the report.

The Journal story said a deal could include an injunction barring WorldCom from violating securities law. Also, the terms of the deal could include settlement of charges against some low- and mid-level executives. No details were reported, but a settlement could include fines, according to the Journal.