Qwest To Pay $400M To Settle Class Action Over Fraud

Law360 (November 2, 2005, 12:00 AM EST) -- With a $400 million settlement offer, Qwest Communications International Inc. Tuesday moved toward resolving a slew of investor class action lawsuits over alleged securities fraud that led to the company’s restatement of billions of dollars in revenue in 2002.

The settlement is directed at around twenty class action suits that were filed against the Denver-based company in 2001 and 2002 in the U.S. District Court for the District of Colorado. They alleged certain of the company’s board members and executives misled investors prior to erasing $2.5 billion in revenue and obtained more than $600 million through insider trading.

Qwest signed a...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!