Qwest ex-CEO prison term incorrect - appeals court
Corporate Governance
A U.S. appeals court ruled on Friday that Qwest Communications International Inc ex-Chief Executive Joseph Nacchio was incorrectly sentenced to six years in prison for insider trading.
The 10th U.S. Circuit Court of Appeals ordered the federal district court in Denver to redetermine what the correct sentence should be and strongly indicated the sentence should be less than six years.
The Denver-based appeals court also ruled that U.S. District Judge Edward Nottingham, who presided at trial, had erred in ordering the former executive to forfeit $52 million, the gross proceeds from selling his Qwest stock.
The appellate judges ordered a new trial judge to redetermine the correct amount of proceeds from his insider trading that Nacchio will have to forfeit to the government.
Nacchio is serving his sentence at a federal prison camp in Pennsylvania and is awaiting a decision from the U.S. Supreme Court on whether it will accept his appeal claiming that he did not receive a fair trial.
Related listings
-
Court: Star Chinese investor pleads guilty in stock case
Corporate Governance 12/23/2016A Chinese court says a star securities trader who was arrested following last year's stock market collapse has pleaded guilty to insider trading and manipulating share prices. The court in the eastern city of Qingdao said in a statement Tuesday that ...
-
NY court: Case against ex-AIG execs can continue
Corporate Governance 08/23/2016New York's attorney general can continue his legal effort to bar two former American International Group Inc. executives from the securities industry and forfeit any improperly gained profits, the state's highest court ruled Thursday. The Court of Ap...
-
High court directs Andhra Pradesh government to prepare summer plan
Corporate Governance 11/23/2015The Hyderabad High Court has directed the Andhra Pradesh government to take steps to protect people from heat waves during summer season. The bench of acting Chief Justice Dilip B Bhosale and Justice S Ravi Kumar gave AP two weeks to come up with a p...
Illinois Work Injury Lawyers – Krol, Bongiorno & Given, LTD.
Accidents in the workplace are often caused by unsafe work conditions arising from ignoring safety rules, overlooking maintenance or other negligence of those in management. While we are one of the largest firms in Illinois dedicated solely to the representation of injured workers, we pride ourselves on the personal, one-on-one approach we deliver to each client.
Work accidents can cause serious injuries and sometimes permanent damage. Some extremely serious work injuries can permanently hinder a person’s ability to get around and continue their daily duties. Factors that affect one’s quality of life such as place of work, relationships with friends and family, and social standing can all be taken away quickly by a work injury. Although, you may not be able to recover all of your losses, you may be entitled to compensation as a result of your work injury. Krol, Bongiorno & Given, LTD. provides informed advocacy in all kinds of workers’ compensation claims, including:
• Injuries to the back and neck, including severe spinal cord injuries
• Serious head injuries
• Heart problems resulting from workplace activities
• Injuries to the knees, elbows, shoulders and other joints
• Injuries caused by repetitive movements
For Illinois Workers’ Compensation claims, you will ALWAYS cheat yourself if you do not hire an experienced attorney. When you hire Krol, Bongiorno & Given, Ltd, you will have someone to guide you through the process, and when it is time to settle, we will add value to your case IN EXCESS of our fee. In the last few years, employers and insurance carriers have sought to advance the argument that when you settle a case without an attorney, your already low settlement should be further reduced by 20% so that you do not get a “windfall.” Representing yourself in Illinois is a lose-lose proposition.