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.
- read this piece in The Rocky Mountain News
- Qwest already agreed to pay the Colorado Public Employees Retirement Association $15.5 million