Former Qwest Executive Seeks Sanctions Against SEC
New Mexico – A former Qwest accountant is seeking sanctions against the Securities and Exchange Commission for a civil lawsuit it filed against him, former Qwest CEO Joseph Nacchio and others.
The pending lawsuit alleges James Kozlowski and others misrepresented Qwest's revenues between 1999 and 2002. Kozlowski argues he was a mid-level accountant who isn't to blame.
Kozlowski's attorneys argue in court documents filed Tuesday that the SEC has no reasonable basis to sue Kozlowski, who they say was targeted after he couldn't provide evidence against Nacchio.
The SEC has said Kozlowski hasn't shown that it acted in bad faith. It has accused him of "theatrical conduct," including filing "numerous losing motions." Kozlowski's attorneys dispute that.
Copyright 2010 The Associated Press.