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DENVER – California’s giant teacher-pension fund has reached a nearly $47 million settlement with Qwest over a lawsuit claiming that the Denver-based firm defrauded the fund of $150 million.
The settlement had been under seal in San Francisco County Superior Court and was made public Wednesday. It calls for Qwest, its accountants and banks to pay the California State Teachers’ Retirement System $45 million. Former chief executive Joe Nacchio must pay $1.5 million.
