Circuit Voids $400M Qwest Shareholder Deal

Law360, New York (January 16, 2008, 12:00 AM EST) -- An appellate court has rejected a $400 million class action settlement between Qwest Communications International Inc. and its shareholders because objections by two of the telecommunications company's former executives were not properly addressed.

In a 2-1 decision, the U.S. Court of Appeals for the Tenth Circuit remanded the case back to a Colorado federal court to clarify its ruling on objections to the settlement filed by former Qwest executives Joseph P. Nacchio and Robert S. Woodruff.

The settlement included Qwest and 11 of its officers, but...
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