Thursday, June 11, 2009

Nacchio Files Reply Brief and Case Is Set for Conference

Former Qwest CEO Joseph Nacchio's Petition for Cert can be found here. He argued that the Tenth Circuit decision (en banc) conflicted with other circuits. (The Tenth Circuit opinion was decided with a close vote). Nacchio has now filed his Reply Brief, responding to the government, and the matter has been set for conference at the end of the month.  Here are some interesting lines from the brief-

  • "The petition and amicus briefs explained that if the internal debates and predictions underlying this prosecution count as 'material inside information' then no company or executive can buy or sell stock, ever, without risking capricious criminal prosecution."
  • "The government never denies that this is the first time an executive has ever been prosecuted on the basis of undisclosed 'risks' about future quarters, or that Nacchio was convicted for failing to disclose information that other circuits would have punished him for disclosing."

There are a host of other important issues in this case.  

Reply Brief - Download Cert_Reply

See also Catherine Tsai, Houston Chronicle (AP), Nacchio: Case never should have gone to trial

(esp)

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Comments

Nacchio is a poster boy for the politicization of the Justice Department.

He's a poster boy for the culture of overcriminalization.

With 4,000 plus federal criminal laws on the books, it's a rare citizen or business person who isn't vulnerable to prosecution for techincal violations of one or more of vague, sweeping, flypaper statutes.

All of which makes it easy for the government to target unruly, troublesome citizens almost at will.

It's hard to fight the feeling Nacchio's real crime was failing to cooperate in the government's warrantless spying program.

Posted by: John K | Jun 15, 2009 9:45:56 AM

Good tips.I really like that.Thanks

Posted by: Penny Stocks | Feb 3, 2010 12:07:36 AM

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