Former WorldCom CFO Sullivan, two others settle with investors News
Former WorldCom CFO Sullivan, two others settle with investors

[JURIST] As briefly noted yesterday in JURIST's Corporations and securities brief, WorldCom ex-CFO Scott Sullivan and two other executives have reached civil settlements over their roles in WorldCom's disastrous accounting fraud [JURIST news archive] that bankrupted the company. Sullivan – who famously testified against recently-convicted WorldCom founder Bernard Ebbers [Wikipedia profile] – and the executives David Myers and Buford Yates plead guilty to criminal charges and await sentencing next month. The judge ruled that Myers and Yates were unable to pay anything to the class, but Sullivan will be forced to sell his 10-bedroom mansion under construction in Florida, estimated to be worth $5 million, and give up his WorldCom 401(k). CNN has more.

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.

Defense Secretary Robert McNamara resigns during Vietnam Conflict

On November 29, 1967, Secretary of Defense Robert S. McNamara announced that he was resigning from his office to accept an appointment as head of the World Bank. The announcement came as the Vietnam Conflict was becoming increasingly unpopular in the United States and abroad.