Nacchio conviction reversed
By Andy Vuong
The Denver Post
The 10th Circuit Court of Appeals has reversed the guilty verdict in the criminal insider trading case of former Qwest CEO Joe Nacchio and ordered a new trial before a different judge.
The 2-1 decision cited U.S. District Judge Edward Nottingham's exclusion of expert testimony by Northwestern University law professor and private consultant Daniel Fischel.
Fischel was allowed to testify on Nacchio's behalf about the facts behind his stock sales, but was excluded from providing economic analysis.
"We conclude that on the record before him the district judge was wrong to prevent Professor Fischel from providing expert analysis, and that this error was not harmless," the majority decision from Judges Paul Kelly and Michael McConnell states.
(Continued here.)
The Denver Post
The 10th Circuit Court of Appeals has reversed the guilty verdict in the criminal insider trading case of former Qwest CEO Joe Nacchio and ordered a new trial before a different judge.
The 2-1 decision cited U.S. District Judge Edward Nottingham's exclusion of expert testimony by Northwestern University law professor and private consultant Daniel Fischel.
Fischel was allowed to testify on Nacchio's behalf about the facts behind his stock sales, but was excluded from providing economic analysis.
"We conclude that on the record before him the district judge was wrong to prevent Professor Fischel from providing expert analysis, and that this error was not harmless," the majority decision from Judges Paul Kelly and Michael McConnell states.
(Continued here.)
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