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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.