$400 Million Class Action Lawsuit Settlement Against Qwest Communications International Inc. Approved

A class action lawsuit which alleged Qwest Communications International Inc. and former shareholders with securities fraud-related losses when Qwest stock fell from a high of $64 a share to below $2 after Qwest in 2002 restated $2.2 billion in revenue for the previous two years has been approved to be settled for $400 million.

A federal judge has approved the pending settlement.

About a dozen shareholder groups opted out of the proposed settlement, and are pursing their lawsuits separately.

Link [news.yahoo.com/s/nm/20060929/bs_nm/qwest_dc_1]

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