Agents may potentially misrepresent the firm and act in ways that favor their career rather than complying with the goal of the firm; that is maximizing the wealth of the stockholder, through maximizing the stock price. As a result, the company would face an Agency problem. Having said that it is important to highlight some of the agency problems that had occurred in the financial markets, one interesting and important incident is the WorldCom scandal.

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- Research the reason behind the WorldCom Scandal.

(please answer in your words)