Appeals panel rejects Qwest request for rehearing over
The Associated Press
Thursday, April 3, 2008
DENVER — A
three-judge panel of the 10th U.S. Circuit Court of Appeals has
denied Qwest's request for the full court to hear an appeal
regarding its settlement with a pension fund. Qwest
Communications International Inc. and the New England Health
Care Employees Pension Fund reached a $400 million settlement
related to a collapse in company stock.
Former CEO Joe Nacchio and former Chief Financial Officer Robert
Woodruff, who were Qwest's co-defendants in the pension fund's
lawsuit, were not included in the settlement and appealed.
A three-judge panel of the appeals court in January sent the
case back to U.S. District Court.
On Wednesday, appeals judges rejected Qwest's request for the
full appeals court to hear the case.