A summary of reaction to a jury’s verdict convicting former Qwest Communications CEO Joe Nacchio of 19 counts of insider trading:
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“We certainly will appeal.”—Lead defense attorney Herbert Stern.
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“For anyone who’s ever made a call from Qwest service territory … the term ‘convicted felon Joe Nacchio’ has a very nice ring to it. This is an overwhelming determination of guilt.”—Troy Eid, U.S. attorney for Colorado.
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“In every case there is a time for justice and today is that day for Joe Nacchio. I hope it’s also a time for justice and closure for the people of this state. Insider trading is not a victimless crime … it’s a crime about fairness. Many lost their hopes and dreams while others at Qwest took the easy way out.”—Cliff Stricklin, an assistant U.S. attorney who was lead prosecutor.
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“That makes me very happy, just for the simple reason that it has impacted so many of the membership we represent. Somebody like that doesn’t have any idea what havoc they cause and what they do to families and to planned retirement.”—Suzie Miller, president of the Communications Workers of America Local 7777, which represents most Qwest employees.
