Qwest Adds $40M To $400M Deal With Investors

Law360, New York (August 8, 2008, 12:00 AM EDT) -- Qwest Communications International Inc. has overcome the objections of two former executives and agreed to a settlement with shareholders that provides an additional $45 million to the approximately $400 million previously set aside to resolve the class action.

Under the terms of the new settlement, Qwest will extend the range of the settlement to include shareholder claims against former Chief Executive Officer Joseph Nacchio and former Chief Financial Officer Robert Woodruff.

Qwest will provide an additional $40 million to the shareholders and indemnify Nacchio and Woodruff...
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