AUSWR
The Association of U S West Retirees
 

 

 

Lawyer files objection to Qwest settlement
Rocky Mountain News
Tuesday, November 21, 2006

A Denver attorney on Friday objected to a proposed $37.5 million class-action settlement connected to Qwest's management of its employee-investment plan during the Joe Nacchio era.

In a hearing in Denver federal court, attorney Curtis Kennedy, who was representing four objectors, said his clients put so much faith in the company that they lost up to $250,000 each in the savings plan when Qwest stock plummeted.  Kennedy argued that the plaintiff attorneys settled the case too quickly and are seeking an excessive $9.75 million in fees.

Federal Judge Robert Blackburn said he would rule later on the proposed settlement.

http://www.rockymountainnews.com/drmn/other_business/article/0,2777,DRMN_23916_5158763,00.html