Thursday, September 25, 2008
The 10th Circuit heard en banc the appellate case of former Qwest CEO Joe Nacchio. The Denver Post here provides details of that argument. The panel had reversed and remanded the convictions (see here) with a statement that "Armchair economics is not the way to decide complex securities cases." But the case immediately went en banc for the full court to consider some issue regarding the merits of the matter, and others of a procedural nature.