AUSWR
The Association of U S West Retirees
 

 

 

Nacchio's Attorneys Continue Bid to Have Charges Dropped
By a WALL STREET JOURNAL Staff Reporter
Tuesday, May 2, 2006

Denver --  In a series of legal filings yesterday, attorneys for Joseph Nacchio continued their bid to have criminal insider-trading charges against the former Qwest Communications International Inc. chief executive dismissed.

In filings in U.S. District Court here, Mr. Nacchio's attorney Herbert Stern argued that prosecutors didn't make it clear that to commit a crime, Mr. Nacchio must have based his decision to sell Qwest stock on insider information.  Mr. Nacchio says he didn't act on the basis of insider information.  The distinction between selling while in possession of insider information and selling on the basis of inside information has been debated between the two sides.

No trial date has been set.

http://online.wsj.com/article/SB114653792049641224.html?mod=telecommunications_primary_hs