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Full-Text Articles in Securities Law
Responses By The Federal Communications Commission To Worldcom's Accounting Fraud, Warren G. Lavey
Responses By The Federal Communications Commission To Worldcom's Accounting Fraud, Warren G. Lavey
Federal Communications Law Journal
WorldCom's disclosure of billions of dollars of financial fraud on June 25, 2002 challenged the Federal Communications Commission ("FCC") in several major ways. The FCC proclaimed its commitment to enforce its rules to protect consumers against service discontinuance as well as the priority of rooting out corporate fraud. The FCC's rules required WorldCom to file accurate financial information and to show that it had financial and character qualifications necessary to hold FCC licenses. Despite numerous related proceedings and other actions in 2001 and early 2002, the FCC had not detected nor deterred WorldCom's fraud. After the disclosure, WorldCom continued its …
Hostile Tender Offers For Companies Holding Licenses Issued By The Federal Communications Commission, Stephen F. Sewell
Hostile Tender Offers For Companies Holding Licenses Issued By The Federal Communications Commission, Stephen F. Sewell
Federal Communications Law Journal
When a tender offer to acquire a company is made, those making the tender offer will have to overcome a number of regulatory hurdles. The number of hurdles multiply, however, when the offer is hostile and the target company holds licenses issued by the FCC. The article sketches the FCC's response to hostile tender offers for companies holding FCC licenses, specifically discussing the Commission's adoption of procedures in 1985 to address hostile tender offers. While these provisions provided needed clarification, the authority of the FCC to implement these provisions and the effectiveness of them as a matter of policy have …