Qwest to Settle SEC Case, Source Says
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Qwest Communications International Inc. has agreed to pay $250 million to settle fraud charges, a source familiar with the matter said.
Qwest has agreed to settle the Securities and Exchange Commission case without admitting or denying guilt, the source said.
The SEC has been investigating whether the Denver-based phone company inflated revenue by incorrectly booking network capacity deals.
Qwest shares rose 15 cents to $3.03 on the New York Stock Exchange.
From Reuters
* Sprint Corp. and AT&T; Corp. will pay nearly $1.5 million in civil penalties to settle claims that the companies violated federal credit laws for customers seeking phone service, the Federal Trade Commission said.
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