Appeals Court Overturns Nacchio Conviction

Law360, New York (March 17, 2008, 12:00 AM EDT) -- An appeals court overturned the insider trading conviction of the former chief executive of Qwest Communications International Inc. on Monday, saying the trial court was wrong to exclude expert testimony.

A three-judge panel of the U.S. Court of Appeals for the Tenth Circuit voted 2-1 that the improper exclusion merits a new trial for Joseph Nacchio. The appellate court said that the evidence is sufficient for the government to try the former executive again.

“This is a setback, not a defeat,” said U.S. Attorney for the...
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