Office of the Attorney General News Release Archive

Thursday, June 27, 2002

STATEMENT FROM ATTORNEY GENERAL JOHN CORNYN REGARDING WORLDCOM:

"The apparent fraudulent conduct of WorldCom is highly disturbing and my office will use every legal tool we have to protect the interests of the people of Texas and to bring to justice all those whose improper or illegal actions have hurt Texas taxpayers, public employees, investors, and honest, hardworking WorldCom employees based in Texas.

"I have ordered an investigation and we have started to identify and pursue claims for any monies owed to the State of Texas and recover any losses identified by state pension and investment funds. We are talking to the Employees Retirement System of Texas, the Teacher Retirement System of Texas, State Comptroller's Office, Public Utilities Commission and other state agencies to determine all state interests involving WorldCom that we need to protect. Moreover, we are working with the Texas Workforce Commission to protect the rights of WorldCom's Texas employees.

"We are examining all state and federal laws applicable to WorldCom's conduct to determine the best legal action to take. We stand ready to recover any losses through appropriate court action."

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