January 1997: Nacchio named Qwest CEO.
June 1999: Qwest makes hostile takeover bid for U S West.
June 2000: Qwest, U S West complete $50 billion merger.
October 2000: Accounting company Arthur Andersen tells Qwest the way it books fiber-optic capacity sales is high-risk and that it faces a possible challenge from federal regulators.
March 11, 2002: Qwest announces that the Securities and Exchange Commission has opened an informal inquiry into its accounting practices.
April 2002: SEC makes its investigation formal.
June 16, 2002: Nacchio is forced to resign.
July 10, 2002: Qwest confirms that the U.S. Justice Department is investigating possible criminal activities.
November 2003: Qwest completes a re-audit of its books for 2000-02, wiping out $2.5 billion in improperly logged revenue.
March 15, 2005: SEC sues 12 former Qwest executives, including Nacchio, for allegedly inflating the company’s financial performance and misleading investors.
Dec. 20, 2005: Nacchio is charged with illegal insider trading in the sales of $100.8 million in stock from January to May 2001.
March 19, 2007: Nacchio’s trial on illegal-insider-trading charges begins in U.S. District Court in Denver.
April 19, 2007: Nacchio is found guilty of 19 of 42 counts of illegal insider trading.
July 27, 2007: Nacchio is sentenced to six years in prison.
Aug. 22, 2007: Appellate panel grants Nacchio bail pending appeal.
Dec. 18, 2007: Oral arguments heard in appeal.
Today: The 10th Circuit Court of Appeals reverses the guilty verdict in a 2-1 decision.
