New York state's comptroller filed a securities fraud lawsuit Qwest Communications International, also naming several of the telephone company's former top executives, former directors and auditor, Arthur Andersen.

Comptroller Alan Hevesi is the sole trustee of the New York State Common Retirement Fund, which is a large pension fund for New York public employees and the country's second-biggest public pension fund with about $140 billion in assets at the end of March and more than 900,000 members. The fund had opted out of a class action lawsuit filed in Colorado in 2001 that netted shareholders $400 million last year.

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