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Wednesday, Jan. 7, 2004 | 9:18 a.m.
The U.S. Securities and Exchange Commission last month sent so-called Wells notices to 12 or more current and former employees of Qwest, the fourth-biggest U.S. local-phone company, said a person who asked not to be named. The SEC's move was reported Tuesday by the Wall Street Journal.
The Wells notices, which give the recipients a chance to argue their cases before the SEC takes action, relate to swaps of fiber-optic network capacity with rivals that Qwest used to boost sales.
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