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
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.