Qwest To Pay $411M To Wrap Up Securities Suits

Law360, New York (October 31, 2007, 12:00 AM EDT) -- Qwest Communications has closed the book on another securities suit alleging the company intentionally inflated its share price, agreeing to pay $411 million to bring an end to the litigation.

The company revealed the settlement during its third quarter conference call on Tuesday. The settlement, to be paid on or before June 30, will benefit shareholders that opted out of an earlier class action settlement.

“A number of persons, including certain large pension funds, were excluded from the settlement class at their request, and filed lawsuits...
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