From Wikipedia, the free encyclopedia.
Global Crossing is a telecommunications company that rode the wave of 1990s to incredibly high market values, only to go bankrupt a few years later. Its stock price hit a high of US $64 per share, and would eventually plunge to below $1. Company chairman Gary Winnick, and former CEOs John Legere and Thomas Casey were examples of the excess of that era, each one taking personal fortunes while costing shareholders billions.
In January 2002, the company declared chapter 11 bankruptcy, making it the fourth largest insolvency in United States history.
