Nacchio Tries To Force His Way Into $400M Deal

Law360, New York (March 24, 2006, 12:00 AM EST) -- The two top former executives of telephone carrier Qwest Communications International have told a federal court they were wrongfully excluded from a $400 million settlement reached between the company and its shareholders.

The deal includes 12 current and former Qwest executives, but former chief executive Joseph Nacchio and former chief financial officer Robert Woodruff were excluded from the deal.

The pair said the deal violates their employment agreements with the company. They were accused of stealing more than $210 million through insider trading, which led the...
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