The California Supreme Court has rejected a bid by billionaire Philip Anschutz to avoid being sued for allegedly aiding and abetting securities fraud at Denver-based-phone company, Qwest Communications International Inc.
The state high court also refused to stop the lawsuit, brought against Qwest, Anschutz and company President Joseph Nacchio by the California State Teachers Retirement System, while Anschutz appeals the ruling to the U.S. Supreme Court.
