Qwest's Nacchio Guilty Of Insider Trading

Law360, New York (April 19, 2007, 12:00 AM EDT) -- Former Qwest Chief Executive Joe Nacchio was convicted Thursday of 19 of 42 insider trading charges in one of the most closely watched corporate scandals in recent years.

After deliberating for six days, the federal jury acquitted him on the other 23 counts stemming from other stock sales.

The jury found Nacchio, 57, guilty of 19 counts of insider trading, covering $52 million in stock sales, that were charged in a December 2005 indictment. The jury returned its verdict following 15 days of trial before U.S....
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