A FLASH FLOOD WATCH will go into effect at NOON and last through MIDNIGHT from most of Southern Colorado. Scattered afternoon and evening thunderstorms will be more than capable of producing very heavy rain once again. Burn scars and areas that saw heavy rain yesterday will be under the greatest risk for flash flooding. The 11 Breaking Weather Team will be tracking this threat all day for you.
Qwest Communications International signed agreements that a law firm alleges artificially inflated the company's revenues while it was trying to close its merger with US West.
The law firm, Milberg Weiss Bershad Hynes and Lerach, has filed a federal lawsuit citing Qwest agreements to buy and sell capacity on fiber optic networks, including some deals that are now under federal scrutiny.
The firm alleges Qwest was artificially boosting revenues through the deals and, in turn, its stock, in order to acquire US West.
A trial is not expected until 2004. Qwest spokesman Steve Hammack says the company and its auditors are doing their own internal reviews.