Alltel Settles With SEC Over Divestment Orders

Law360, New York (December 3, 2007, 12:00 AM EST) -- Alltel Corp. has agreed to shell out $1.325 million to settle charges that it violated a pair of court orders requiring it to divest its operations in four rural Minnesota areas in order to get its $1.1 billion purchase of Midwest Wireless Holdings LLC approved.

The U.S. Department of Justice announced Monday that the Little Rock, Ark.-based mobile wireless provider had agreed to shell out $745,000 to the state of Minnesota and $580,000 to the U.S. Treasury.

Those payments would settle the petition the DOJ and...
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