Qwest Says KPNQwest Debt
Holder Appaloosa Files Suit
Wednesday, August 3, 2005
WASHINGTON -(Dow Jones)- Qwest Communications International Inc. said Tuesday that holders of KPNQwest debt securities filed a complaint against the company alleging violations of federal securities laws.
The suit, filed June 17 by Appaloosa Investment Limited Partnership I, Palomino Fund Ltd. and Appaloosa Management LP, seeks undetermined compensatory awards and an award of attorneys' fees, according to a filing with the Securities and Exchange Commission.
Qwest, which was a major shareholder of KPNQwest, said it intends to defend itself "vigorously" against the suit and other previously reported pending litigation against the company in connection with KPNQwest securities.
-By Nicolas Brulliard; Dow Jones Newswires; 202-862-1351; nicolas.brulliard@ dowjones.com