The Association of U S West Retirees



Qwest OKs payouts to PERA, Alaskan AG
Denver Post Wire Services
Wednesday, November 22, 2007

Qwest has agreed to pay $15.5 million to the Colorado Public Employees' Retirement Association and $19 million to the Alaskan Attorney General's Office to settle shareholder lawsuits related to the company's financial collapse and alleged fraud during the era of former Qwest chief executive Joe Nacchio, according to reports.

The settlements are part of the $411 million Qwest said it would spend to settle remaining shareholder lawsuits.