Qwest Favorably Settles Shareholder Claims

Skadden represented Qwest Communications International, Inc. and its board of directors in the successful settlement of a class action brought by plaintiffs seeking to enjoin its $22.4 billion merger with CenturyLink, Inc. The plaintiffs, who agreed to settle for additional disclosures in the final proxy statement, had alleged that Qwest’s board members breached their fiduciary duties in connection with the proposed merger, and that CenturyLink aided and abetted those breaches. On February 25, Judge Wiley Y. Daniel of the U.S. District Court for the District of Colorado granted a motion for final approval of the settlement.