DENVER—A judge says lawyers for two former Qwest Communications International Inc. employees and the Securities and Exchange Commission are welcome to proceed to trial, but he’s also seeing if he can facilitate settlement talks.
The SEC has filed a civil complaint alleging the actions of former Chief Financial Officer Robert Woodruff and former Qwest accountant Frank Noyes gave investors a skewed view of the Denver-based telecommunications company’s financial performance between 1999 and 2001.
The parties met for a settlement conference Wednesday in Denver with U.S. Magistrate Judge Craig Shaffer (SHAY’-fuhr) and talked behind closed doors about what it would take to settle.
A final pretrial conference is scheduled Sept. 13.
Claims against other former Qwest employees including former CEO Joseph Nacchio have been dismissed or settled.
