The Association of U S West Retirees



Appeals panel rejects Qwest request for rehearing over settlement
The Associated Press
Denver Post
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.