Nacchio trial – No decision… yet

Deliberations in the insider-trading case against former Qwest chief executive Joe Nacchio will stretch into their fourth day Tuesday, as jurors remain undecided.

The jury put several questions to Judge Edward Nottingham on the first day of deliberations, but none have been sent to him since. Nottingham ordered that the jury reconvene this morning.

Nacchio, 57, is accused of selling more than $100m (£51.4m) of Qwest stock in 2001. It is alleged that he was told before he sold the stock that the company could not make its publicly stated revenue goals and that it was at financial risk. Soon after, Qwest became the subject of an accounting scandal and was forced to restate $2.2bn in revenue.

Judge Nottingham could sentence Nacchio to 10 years and a $1m fine for each of the 42 counts of insider trading.


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