Ex-Qwest CFO To Pay $2.7M To Exit SEC Fraud Case

Law360, New York (February 3, 2012, 3:06 PM EST) -- The former chief financial officer of Qwest Communications International Inc. has agreed to pay $2.7 million to exit a U.S. Securities and Exchange Commission lawsuit alleging he fraudulently inflated the company's revenue, according to settlement papers filed Thursday in Colorado federal court.

Robert Woodruff would pay $2.4 million in disgorgement and interest and a $300,000 civil penalty under the proposed settlement, which was signed by Woodruff on Dec. 9 and presented to the court Thursday. Under the settlement, Woodruff would not admit or deny the allegations...
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