b. On or about June 19, 2002, SCOTT D. SULLIVAN, the defendant, stated, in substance and in part, that WorldCom had entered into a series of long-term lease agreements with other telephone companies to guarantee access to additional line capacity to enable them to meet anticipated future demand. SULLIVAN stated, in substance and in part, that revenues had not grown as expected to fill this capacity. SULLIVAN stated, in substance and in part, that he therefore decided to capitalize the excess leased capacity, on the theory that the costs associated with securing the long-term leases should be "matched" with revenues generated in the future. SULLIVAN acknowledged, in substance and in part, that he had not consulted with Arthur Andersen regarding the decision to capitalize line costs.
28, According to kajsa vintage collection genuine leather iphone xs max case - black the KPMG Engagement Partner,on June 20, 2002, at a meeting of the WorldCom Audit Committee,representatives of Arthur Andersen indicated that they disagreed with the explanation provided by SCOTT D, SULLIVAN, the defendant, regarding the propriety of capitalizing line costs and accordingly would withdraw their 2001 audit report and their first quarter of 2002 review, The KPMG Engagement Partner stated, in substance and in part, that KPMG agreed with Arthur Andersen based on the fact that (a) methodologically, SULLIVAN's accounting did not comply with GAAP; (b) there was no supporting documentation for the "prepaid capacity" entries; and (c) the accounting method described by SULLIVAN and DAVID F, MYERS, the defendant, had not been disclosed to Arthur Andersen or to the public..
30. On June 25, 2002, prior to the release of the June 25, 2002 press release, WorldCom's common stock closed at a price of $.83. As of July 1, 2002, WorldCom's common stock closed at a price of $.06. Based upon WorldCom's publicly reported outstanding common stock as of February 28, 2002, the drop in market price resulted in total approximate losses of more than $2 billion in value for WorldCom's outstanding approximate 2.9 billion shares. 31. On or about July 21, 2002, WorldCom filed for bankruptcy protection pursuant to Chapter 11 of the Bankruptcy Code. On or about July 30, 2002, the NASD de-listed WorldCom's common stock from the NASDAQ National Market System.
WHEREFORE, deponent prays that the above-named kajsa vintage collection genuine leather iphone xs max case - black defendants be arrested and imprisoned or bailed as the case may be, ___________________________ PAUL J, HIGGINS Special Agent Federal Bureau of Investigation, Sworn to before me this day of , 2002 , _______________________________UNITED STATES MAGISTRATE JUDGE, Read the complete text of the Justice Department's criminal complaint against two WorldCom executives, Be respectful, keep it civil and stay on topic, We delete comments that violate our policy, which we encourage you to read, Discussion threads can be closed at any time at our discretion..
CNET también está disponible en español. Don't show this again. AT&T Broadband's current service offers speeds of 1.5mbps downstream and 256kbps upstream for $42.95 a month. Customers who lease modems from the company pay $45.95 per month. The company drew fire late last year when it cut the speed for former Excite@Home users who were considered "bandwidth hogs." The company's latest move restores some of the speed, but at a higher price. AT&T Broadband said UltraLink will serve power users, which it described as those who have "set up home networks, send or receive large files such as when downloading software, or enjoy other bandwidth-intensive applications.".