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Ex-Qwest CEO Ignored Analyst Concerns: Witness

Law360 (March 22, 2007, 12:00 AM EDT) -- Former Qwest Chief Executive Joe Nacchio repeatedly ignored analysts' questions about one-time transactions allegedly used to inflate the company’s apparent expansion, a former senior vice president told the jury in Nacchio’s insider-trading trial.

Nacchio never mentioned the one-time transactions to analysts, but assured them that Qwest would produce revenue growth of 15% to 17% after the company acquired US West, Lee Wolfe, a former senior vice president of investor relations, told the jury.

“The problem with one-timers is you have to repeat them each quarter and...
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