Update 4: Qwest to Pay $250M to Settle SEC Charges
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Qwest Communications International Inc., the regional telecommunications company, agreed Thursday to pay $250 million to settle allegations that it engaged in &quot;massive financial fraud&quot; by improperly booking $3.
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A federal judge approved a $2.575 billion settlement of a class-action lawsuit by WorldCom investors who claimed they were defrauded by Citigroup, the second-largest settlement ever in a securities fraud case. When the tentative pact was announced by Citigroup in May, it was for $2.65 billion, but the agreement presented to the judge was reduced by $75 million. Investors accused Citigroup of hiding WorldCom's financial risks when it helped sell $10 billion of WorldCom debt in 2001.
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Former directors of WorldCom Inc.  have agreed to settle investors' claims that they failed to  properly control the telephone company's finances, the lead  plaintiff in the class action case said on Wednesday.
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Qwest Communications International Inc. on Thursday reported a third-quarter loss, citing charges and lower revenue. The provider of voice, video and data services posted a quarterly loss of $569 million, or
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Qwest, the US telecoms company founded by Millennium Dome entrepreneur Philip Anschutz, will pay $250m (Â£140m) to settle civil fraud charges, according to a union official briefed on the pact.
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The former chief financial officer of Qwest Communications International Inc.  was ordered to pay a total of $577,052 to settle charges that she helped defraud investors of billions of dollars, the U.S. Securities and Exchange Commission said on Friday.
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Qwest Communications has agreed to pay $250 million to settle a wide-ranging fraud investigation by the Securities and Exchange Commission, The Associated Press has learned.
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Qwest Communications International, the US telecommunications group, is understood to have agreed to pay $250 million to end a two-year federal probe of alleged fraudulent accounting practices employed by former management.
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Ameriprise Financial Services Inc. will pay $25,000 to settle a probe of how one of its laptop computers went missing with the personal data of thousands of Massachusetts residents, Secretary of State William F. Galvin said yesterday.
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A former Qwest Communications executive is negotiating a possible settlement of SEC charges against him. The Securities and Exchange Commission has accused Michael Felicissimo of fraud that led to overstated wireless revenues at Qwest.
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Thursday&#39;s agreement between Qwest Communications and federal regulator settles allegations of &quot;massive financial fraud&quot; at a price of $250 million.
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The regional telecommunications company Qwest agreed Thursday to pay $250 million to settle allegations that it improperly booked millions in revenue and that senior managers sought to cover it up.
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WASHINGTON -- Financial-services giant Citigroup Inc. will pay $250,000 to settle allegations it used misleading sales material on hedge funds, the National Association of Securities Dealers said yesterday.
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Civil charges may be coming in the near future for the former leader of Denver-based Qwest Communications International Inc. The Wall Street Journal reported Monday that Joseph P. Nacchio, former CEO of the
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WASHINGTON -- Sprint and AT&amp;T will be paying a total of $1.5 million to settle with federal regulators. The government charges the phone giants failed to inform potential customers of their rights under federal credit law, after they were denied service.
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Qwest Communications International  Inc. Q.N on Wednesday released details of its spurned bid for  MCI Inc., MCIP.O, saying its offer had a total value of $8  billion, or $1.25 billion more than the winning bid by Verizon  Communications Inc. VZ.N
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Qwest Communications International Inc. reported a third quarter loss on Thursday, partly due to lower revenues and to a charge related to litigation reserves.