Qwest Communications International Inc. said it is unaware of any U.S. criminal investigation after the Wall Street Journal reported that the telephone company is being probed by the Justice Department.
"We have no reason to believe that we are the subject of any investigation by the U.S. Department of Justice," said Drake Tempest, Qwest's general counsel. The Justice Department declined to comment.
The Federal Bureau of Investigation and the U.S. attorney's office in Denver are investigating Qwest, the newspaper reported, citing unnamed sources. Qwest is under examination by the Securities and Exchange Commission for its accounting. Shares of Denver-based Qwest fell 17 cents, or 10%, to $1.53 on the NYSE.