SEC Loses Summary Judgment Bid In Qwest Exec Suit

Law360, New York (March 31, 2010, 7:00 PM EDT) -- A federal judge has denied the U.S. Securities and Exchange Commission’s bid for summary judgment in a lawsuit accusing executives at Qwest Communications International Inc. of concealing the company’s real revenues.

Judge Marcia S. Krieger of the U.S. District Court for the District of Colorado denied the SEC’s motion for summary judgment in a ruling passed down Wednesday.

The SEC's amended complaint alleges one-time Qwest executive James Kozlowski, former Qwest CEO Joseph Nacchio and several other executives engaged in a fraudulent scheme from 1999 to early...
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