SEC’s WorldCom probe



The Securities & Exchange Commission (SEC) is investigating Bank of America, Citigroup, Deutsche Bank and JPMorgan after a group of bondholders filed a lawsuit claiming these banks had misgivings about WorldCom’s financial soundness months before they arranged a $12 billion bond sale.

The bondholders, led by New York State comptroller Alan Hevesi, made the claim in a brief dated March 8 in the US District Court in the Southern District of New York. They claim the investment banks should have made

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