State Recovers $19 million in Settlement with Qwest

Alaska has negotiated a $19 million securities fraud settlement with Denver-based Qwest Communications International Incorporated.

The Department of Law reported Wednesday that the Alaska Permanent Fund Corporation will receive $13 million of that sum.

The Department of Revenue and the Alaska Retirement Management Board will receive $6 million.

This represents the third settlement Alaska has negotiated with corporations in as many years.

Two years ago, it received $45 million dollars from AOL Time Warner; last year the state landed $14 million from WorldCom.


Source:
http://www.9news.com/money/top-article.aspx?storyid=81445