AUSWR
The Association of U S West Retirees
 

 

 

Qwest shareholder suing over merger

 

By Steve Raabe

The Denver Post

April 24, 2010


A Qwest shareholder filed a lawsuit Friday against the telecom firm alleging that Qwest's directors failed to protect shareholder interests in the proposed $22 billion merger with CenturyTel.

At least two law firms said they are considering filing similar lawsuits against Qwest for not getting enough money from the merger.

A suit filed in U.S. District Court in Denver by shareholder Clara Dorn alleges that Qwest directors "breached their fiduciary duties ... by agreeing to sell to CenturyTel without ensuring that plaintiff would obtain adequate, fair and maximum consideration."

 Qwest declined to comment Friday on the suit.

 Law firms in New York and Dallas issued statements saying they are considering shareholder lawsuits against Qwest for failing to adequately shop the company before agreeing to the CenturyTel deal.

 Steve Raabe, The Denver Post