SEC targets Qwest GC in corporate failure trial
Legal Week reports
August 04, 2004 at 08:03 PM
2 minute read
The Securities and Exchange Commission (SEC) is attempting to force the former general counsel of Qwest Communications to testify against his old company, as US authorities pursuing corporate failures continue to target legal advisers.
The SEC filed the request on 28 July in the federal court in Denver, asking that a judge force Drake Tempest to testify in relation to Qwest. This follows his failure to appear at an SEC hearing in June after being subpoenaed by the US market regulator.
The SEC wants Tempest – who is now a partner with Los Angeles giant O'Melveny & Myers – to testify in its civil case against 10 Qwest senior officials about their role in the over-statement of $2.5bn (£1.37bn) of sales.
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