The telecom giant was involved in one of the biggest corporate scandals in recent history. Qwest, like several other major telecoms, was charged in the early 2000's with using "swaps" of fiber optic capacity in order to manipulate its financial results. The company admitted that it had been misrepresenting its accounting for years, and had to restate earnings. At the same time, its CEO, Joseph Nacchio, was accused -- and later convicted -- of insider trading.
The company moved on, but it has struggled in recent years to compete with rivals AT&T and Verizon. Qwest's shares soared in 2010 on news that it would be bought out by CenturyLink; the deal was completed this spring. (Note: Due to the transaction, a ten year stock chart for Qwest is not available.)
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