360networks Receives Subpoena From SEC

360networks Inc. said it received a subpoena from the Securities and Exchange Commission for information on Global Crossing Ltd., the fiber-optic network operator that filed for bankruptcy protection in January. The SEC and FBI are examining allegations from investors and a former employee who have said Global Crossing inflated revenue and misled shareholders.

Qwest Communications International Inc. said it received an SEC subpoena last week. Both Qwest and 360networks participated in swaps with Global Crossing, which controls about one-fifth of the fiber-optic networks leaving the U.S.

A spokeswoman for Vancouver-based 360networks, which filed for bankruptcy protection last year, refused to comment further on the inquiry.