AUSWR
The Association of U S West Retirees
 

 

 

Qwest reaches $11 million settlement
Rocky Mountain News
Tuesday, February 13, 2007

Qwest Communications will pay $11 million to settle a class-action lawsuit over its failed European joint venture KPNQwest.

A New York federal judge recently approved the proposed settlement, according to court records and a regulatory filing.  The settlement also settle claims against a number of other defendants including former CEO Joe Nacchio, former Chief Financial Officer Robert Woodruff and former Chief Legal Officer Drake Tempest.

The venture provided high-speed communications services in more than 50 European cities before rapidly descending into bankruptcy in May 2002.

http://www.rockymountainnews.com/drmn/other_business/article/0,2777,DRMN_23916_5347667,00.html