DENVER—The Securities and Exchange Commission has reached a settlement with former Qwest Communications International Inc. Chief Financial Officer Robert Woodruff over claims that he and others gave investors a skewed impression of the company’s performance between 1999 and 2002.
Court documents show Woodruff isn’t admitting or denying the allegations. He would be ordered to pay almost $2.7 million in disgorgements, interest and fines.
The SEC also has agreed to dismiss similar claims against former Qwest accountant Frank Noyes.
Woodruff and Noyes were the last remaining defendants in a civil lawsuit the SEC filed in 2005 accusing former Qwest executives and employees of fraud or insider trading. Some defendants had claims against them dismissed while others, including former Qwest CEO Joseph Nacchio, reached settlements.
