The trial of Joe Nacchio, former CEO of Qwest Communications International Inc., went to the jury today, shortly after noon Mountain Time.
A jury of eight men and four women is considering whether Nacchio took part in insider trading for sales of $100.8 million in Qwest stock between Jan. 2, 2001, and May 29, 2001.
Each of the 42 counts he faces carries a maximum penalty of 10 years in prison and fines up to $1 million. The government has been trying since late 2005 to force Nacchio to forfeit the proceeds he made from the stock sales.
Nacchio has repeatedly denied any wrongdoing. He oversaw the nations now third-largest local phone company as it lost $100 billion in market value during the telecom downturn.
Qwest Communications International Inc. www.qwest.com
Our writers covered a lot of #EC19 this week. Here are our seven most-viewed articles. goo.gl/fb/GGA23A
March 22 2019 @ 20:49:42 UTC
.@Oracle lays off employees this week to focus on #cloud. goo.gl/fb/vg4w9h
March 22 2019 @ 20:35:09 UTC
"The big, one-stop-shop providers just can't keep up with this pace of change." goo.gl/fb/Ew3Lq2
March 22 2019 @ 20:35:09 UTC
.@8x8 @Avaya announce latest UC, cloud offerings at #EnterpriseConnect. feeds.feedburner.com/~r/ChannelPart…
March 21 2019 @ 22:56:00 UTC
Revisiting our list of 20 top #UCaaS providers, one year later. @Avaya @Cisco @RingCentral goo.gl/fb/cXfpFc
March 21 2019 @ 18:07:24 UTC
Read about @SilverPeak's latest channel efforts in our latest #SDWAN column. goo.gl/fb/3ZT3fy
March 20 2019 @ 23:16:28 UTC
.@Vonage unveils first integrated offering since @NewVoiceMedia acquisition. #contactcenter goo.gl/fb/ugnHM4
March 20 2019 @ 17:47:29 UTC
.@varonis announces Partners in Excellence awards @Optiv @DellEMCPoland @AsystecDMS. goo.gl/fb/PgzKdV
March 20 2019 @ 17:00:17 UTC
