The three-judge panel that overturned former Qwest chief executive Joe Nacchio’s insider-trading conviction requested Thursday that his attorneys file a response to the government’s petition for a rehearing of the case.
Nacchio was given two weeks to file the response, which isn’t always sought by the appellate court in a rehearing petition. Nacchio’s appellate attorney, Maureen Mahoney, declined to comment.
Marcy Glenn, head of Holland & Hart’s appellate practice, said it is not surprising that a response was requested from Nacchio given the case’s significance and because the rehearing petition was made by the government and the panel’s ruling was a split decision.
The Justice Department on Wednesday asked for a rehearing of the case by the full 10th U.S. Circuit Court of Appeals. It argued that the panel’s decision departed from established 10th Circuit precedent — a requirement for a full-court review.
The panel decided 2-1 in March to grant Nacchio a new trial, saying the trial judge wrongfully excluded expert testimony from a defense witness.
Nacchio was convicted in April 2007 on 19 counts of illegal insider trading connected to his sale of $52 million in Qwest stock. He was sentenced to six years in prison.
Indicted in 2005, Nacchio has remained free on bond throughout the legal proceedings.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
