Texas teachers get $61.6 million from Qwest

The Teacher Retirement System of Texas announced it had won $61.6 million from Qwest Communications in a settlement related to the telco's securities fraud scandal. The payday is actually part of the $411 million in settlements that Qwest recently said it would pay to parties that had opted out of a class action suit against the company. Several other retirement agencies also are getting a piece of the $411 million pot. Like the others, the Texas teachers group benefited from opting out because it stood to gain only $1.4 million from the lawsuit.

For more:
- read this piece in The Rocky Mountain News

Related articles:
- Qwest already agreed to pay the Colorado Public Employees Retirement Association $15.5 million

Suggested Articles

With the hurricane season looming large starting next month, Verizon is taking extra steps to keep its business and residential customers connected.

Telefónica's cybersecurity company, ElevenPaths, announced on Tuesday that it has achieved Amazon Web Services Security Competency status.

In the most recent earnings calls, some telecommunications executives expressed their concern over how the COVID-19 crisis was impacting SMBs.