Qwest Defendants Fight Bid To Lift Stay

Law360, New York (July 11, 2007, 12:00 AM EDT) -- Two defendants in the multidistrict securities litigation brought by a group of pension funds in the wake of the $3 billion accounting scandal at Qwest Communications International Inc. are asking a federal judge to keep in place a discovery stay, arguing that the plaintiffs are engaged in a “fishing expedition” for additional claims.

Attorneys for Lewis O. Wilks and Stephen M. Jacoben said in court documents filed July 10 that U.S. District Judge Robert E. Blackburn should deny Qwest's motion to lift the discovery because federal...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.