Federal judge delays WorldCom trial News
Federal judge delays WorldCom trial

[JURIST] A federal judge has delayed the start of the class-action fraud suit against WorldCom [JURIST Hot Topic archive] until March 17, so that lawyers can interview witnesses from former WorldCom CEO Bernard Ebbers fraud trial [AP report] after it ends in the next few weeks. US District Judge Denise Cote also issued strict guidelines for testimony and arguments, and ordered that the case wrap up by early July, rejecting estimates from attorneys that the proceedings would take nine months. The class-action suit, brought by WorldCom investors, alleges that the company used fraudulent accounting practices to inflate profits, cover up known financial weaknesses, and cheat investors. Judge Cote previously has refused to enter a settlement in the case [AccountingWeb.com report] on the grounds that it was unfair to the banks also named in the lawsuit. Reuters has more on the delay of trial. In a related story, the company, which is out of bankruptcy and now called MCI [corporate website], is looking to merge with Verizon [corporate website], but shareholders Friday filed a lawsuit to block the buyout [Reuters report], saying the price is too low.

THIS DAY @ LAW

UN General Assembly approves Palestine partition plan

The UN General Assembly approved UN Resolution Resolution 181 (II) on November 29, 1947, recommending that the British Mandate for Palestine be split into a Jewish state, an Arab state, and an international zone for Jerusalem. The vote in the assembly was 33 for to 13 against, with 10 abstentions. The resolution sparked a war between Palestinian Arabs and Jews in 1947 and a wider war after Egypt, Syria, Jordan, Iraq, and Lebanon invaded the new State of Israel in 1948. Read Resolution 181 (II).

UN divided Palestine between Arabs and Jews

On November 29, 1947, the UN General Assembly voted to partition Palestine into Jewish and Arab territories, leading to the establishment of a Jewish state the following year. Read UN General Assembly Resolution 181.

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