insider

 

Nacchio Appeals Insider Trading Conviciton

Former Qwest Communications International Inc. CEO Joseph Nacchios legal team is seeking to overturn his conviction for insider trading. Nacchios attorney, Maureen Mahoney, filed a 58-page brief with a federal appeals court Tuesday saying there was insufficient evidence for a conviction. She also said the judge gave improper jury instructions and excluded important defense testimony […]

Judge: Nacchio Must Forfeit Assets of $52 Million

Qwest Communications International Inc.s former CEO, Joe Nacchio, must forfeit $52 million in assets he gained after illegal stock sales. The federal government has tried since late 2005 to force Nacchio to hand over those proceeds. A federal judge in Denver released the forfeiture order on Friday as Nacchios sentencing hearing was starting. Nacchio in […]

Nacchio Attorneys File for New Trial

Attorneys for former Qwest Communications International Inc. CEO Joe Nacchio filed motions Monday for an acquittal, a new trial and a change of venue in his insider trading case. His attorneys said the jury that convicted him on 19 of 42 counts in April was exposed to public attacks on Nacchio. A judge has denied […]

NEWS BRIEFS

Wholesale service provider Pac-West Telecomm Inc. filed for Chapter 11 bankruptcy on May 1. The beleaguered company has secured $18.5 in debtor-inpossession financing to fund operations during reorganization. Pac-West has watched revenue from ISPs decline as it simultaneously has spent millions building out its network. It also sold its retail business to TelePacific Communications in […]

Nacchio Sues Over Legal Fees

Former Qwest Communications International Inc. CEO Joe Nacchio has filed a lawsuit in a Delaware court over his legal costs. He said Qwest is balking at paying his legal fees and he is asking the court to require the company to keep footing the bills. Nacchio last month was found guilty on 19 of 42 […]

Nacchio Found Guilty on 19 of 42 Counts

A jury Thursday found former Qwest Communications International Inc. CEO Joe Nacchio guilty on 19 of 42 counts of illegal insider trading. Jury deliberations took six days. Nacchio now faces up to 10 years in prison and a $1 million fine for each of the 19 guilty counts. Federal prosecutors contended Nacchio took part in […]

Jury Debates Nacchio Fate

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. […]

Ex-Qwest Head Charged with Insider Trading

Federal prosecutors today charged ex-Qwest Communications International Inc. CEO Joseph P. Nacchio with insider trading. The government contended Nacchio took part in insider trading for sales of $100.8 million in Qwest stock between Jan. 2, 2001, and May 29, 2001. Each charge carries a maximum penalty of 10 years in prison and fines up to […]

Former Qwest CFO Charged with Insider Trading

Robin Szeliga, the former CFO of Qwest Communications International Inc., has been charged with one count of insider trading, federal prosecutors announced Thursday. Prosecutors allege Szeliga had information about her employers true operating performance and financial condition that was not disclosed to the public when she sold 10,000 shares of Qwest common stock, netting a […]

The ID is: 76405