The stock, which closed yesterday at 7 cents, hit a high of $64.25 in 1999.
Gary Winnick, the founder of the company, realized more than $730 million from selling stock in the company while it was riding high, his S.E.C. filings show.
A spokesman for Mr. Winnick has emphasized that he held onto more than 70 percent of his stake in the company.
Among the shareholders of Global Crossing at one point was former President George Bush, who took an $80,000 speaking fee in stock that at the peak was worth $14 million. It is not known when, or if, he sold his position.
The company has also been criticized for forgiving personal loans made to two of its top executives at a time when a bankruptcy filing was looming.
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