Getting your player ready...
DENVER—A federal court scheduled oral arguments for Dec. 18 in former Qwest Communications CEO Joe Nacchio’s appeal of his insider-trading conviction.
Nacchio was sentenced to six years in prison after he was convicted on 19 insider trading counts stemming from the sale of $52 million worth of stock.
The 10th U.S. Circuit Court of Appeals ruled this week Nacchio could remain free on $2 million bond while it hears the appeal. The appeals court set the hearing date on Friday.
Nacchio’s attorneys have until Oct. 9 to file their appeal and the government must respond by Nov. 9. Nacchio could also chose to file a response to that by Nov. 20.
