A series of shareholder lawsuits brought against Qwest (NYSE: Q) and their soon to be parent CenturyLink (NYSE: CTL) have been dismissed by a federal judge in Denver.
Diane Reberger, a Qwest spokeswoman told the Denver Post that the judge "indicated that he'll issue the order next week and it'll become effective March 17."
When Qwest entered into an agreement to be acquired by CenturyLink last April, Qwest shareholders filed suits against both service providers. The lawsuits argued that the shareholders weren't being properly compensated.
As part of the settlement, Qwest and CenturyLink said they would give shareholders more disclosures related to the merger and cover associated legal fees.
For more:
- the Denver Post has this article
Related articles:
CenturyLink, Qwest: A new service provider era?
Telecom's fiber network feeding frenzy: Top mergers and acquisitions
CenturyLink, Qwest merger consolidates more of the landline market