Qwest's Nacchio Appeals Insider Trading Verdict

Law360, New York (October 11, 2007, 12:00 AM EDT) -- The former chief of Qwest Communications International Inc. is appealing his conviction for insider trading, arguing the financial information he had when he sold his stock in the troubled company was not enough to support a guilty verdict.

Joseph Nacchio, who was convicted by a Denver jury in April and jailed in July for six years, wants a new trial, saying the charges against him were based on the flimsy evidence of future earnings projections.

The jury convicted the ex-CEO on 19 counts of insider trading,...
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