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News
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SEC wants Qwest docs
graphic February 11, 2002: 2:50 p.m. ET

Qwest gets subpoena from SEC for documents related to Global Crossing.
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  • Global files for bankruptcy - Jan. 28, 2002
  • FBI, SEC investigating Global - Feb. 8, 2002
  • Global Crossing
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    NEW YORK (CNN/Money) - Qwest Communications International Inc. said Monday it received a subpoena from the Securities and Exchange Commission for documents concerning bankrupt telecom Global Crossing Ltd.

    Qwest (Q: down $0.33 to $9.27, Research, Estimates), a telephone and data services company, said it would cooperate fully with the SEC, but did not provide any details concerning the documents requested.

    The SEC and the FBI are looking into allegations by a former Global Crossing executive that the company used improper accounting practices to inflate revenues.

    Global Crossing filed for Chapter 11 bankruptcy protection on Jan. 28, with about $12 billion in debt and assets of more than $22 billion. It was the fourth-largest filing in U.S. history, according to Bankruptcydata.com. graphic

      RELATED STORIES

    Global files for bankruptcy - Jan. 28, 2002

    FBI, SEC investigating Global - Feb. 8, 2002

    Global Crossing




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