Qwest Settles with the SEC for $250 Million

Qwest Communications reached a settlement with the U.S. Securities and Exchange Commission (SEC), ending a two-and-a-half year investigation of the company.



Without admitting or denying liability, Qwest agreed on a going-forward basis not to violate provisions of the Federal securities laws, as set forth in the judgment. In addition, the company agreed to pay a $250 million cash civil penalty in two installments, $125 million within 20 business days of the entry of the judgment and $125 million by December 31, 2005.