Securities Expert Witness & Qwest CEO Case

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Former Qwest (NYSE: Q) CEO Joe Nacchio, now residing in a Pennsylvania prison camp, has received the news that the US Supreme Court may be considering a review of his conviction on insider-trading charges…The high court has requested the entire record from Nacchio’s earlier trials and appeals — a move his attorneys said signaled that the court could be leaning toward a formal review of his case.

Nacchio’s appeal is primarily based on two issues. First, he complained that the trial judge in a Denver Federal District Court improperly kept a securities expert witness from testifying on Nacchio’s behalf on matters involving the National Security Agency. Second, Nacchio is contesting insider trading charges leveled against him that involved predictions of future financial results. Nacchio is the last of the 1990s telecommunications executives to be indicted on illegal insider trading charges. He was sentenced to six years in prison earlier this year.

Excerpted from InformationWeek.com.

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