10th Circ. Reinstates Nacchio Conviction

Law360, New York (February 25, 2009, 12:00 AM EST) -- The insider trading conviction of former Qwest Communications International Inc. executive Joseph Nacchio has been reinstated by a federal appeals court, clearing the way for Nacchio to begin serving a six-year prison sentence.

In a narrow en banc decision issued Wednesday, the U.S. Court of Appeals for the Tenth Circuit vacated last year's ruling by a three-judge panel of the same court that overturned Nacchio's conviction on the grounds that the trial judge improperly barred testimony from a defense witness.

The full court ruled 5-4 that...
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