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Judges to review Qwest conviction

September 26, 2008|From Times Wire Services

The insider trading conviction of Joe Nacchio, former Qwest Communications International Inc. chief executive, is going back to court.

The full 10th U.S. Circuit Court of Appeals will hear arguments Thursday as judges review a decision overturning Nacchio's April 2007 conviction. Prosecutors argued that he sold $52 million worth of stock when he knew Qwest was at risk while other investors did not.

In March, a three-judge panel of the appeals court ruled that the trial judge improperly barred testimony from a defense witness. Prosecutors sought a review by the full appeals court, which granted the request.

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