Windstream reaches agreement with state of Oklahoma Windstream entered into an agreement with the state of Oklahoma to dismiss bribery and conspiracy charges contained in an indictment returned by a state grand jury in August. The charges stemmed from a customer event that Windstream hosted at the 2007 NCAA Final Four men's basketball championship for business customers, including the Broken Arrow School District. The company denied any wrongdoing but entered into the agreement in the interest of reaching a compromise acceptable to it and to the state. As part of the agreement, Windstream pledged to take certain steps affirming its commitment to full compliance with all federal, state and local laws. "We are pleased to reach an agreement with the state of Oklahoma to dismiss these charges," said John Fletcher, executive vice president and general counsel for Windstream. "We have denied the charges from the beginning and cooperated fully with the investigation. As always, our focus remains on conducting our business with integrity."
Windstream upgraded to Equal Weight on valuation at Morgan Stanley As previously reported, Morgan Stanley upgraded Windstream to Equal Weight from Underweight and lowered its price target to $7 from $9.50. The firm upgraded shares based on balanced risk/reward following the pullback.