A group of institutional investors is expected to announce a $651 million legal settlement with a number of Wall Street firms that underwrote securities for WorldCom Inc.
According to reports, nearly all of the settlement will be paid by 17 securities firms and banks that underwrote stock. Citigroup Inc. and J.P. Morgan Chase & Co. are expected to pay the largest amounts, in a deal that will be announced before the end of the week.
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