Corporate Governance

Nacchio and Prison

By J. Robert Brown

Joe Nacchio lost his appeal, with the en banc court ruling against him by a 5-4 vote.  He is doing his best to stay out of prison pending appeal to the Supreme Court, so far to no avail.  He has been instructed by the federal district court to go to prison, with the arrival date scheduled for March 23.  An attempt to get the Court of Appeals to allow him to remain free pending appeal just failed.  There are still a few avenues open but it is looking increasingly like the March 23 date will remain firm.

Full post as published by The Race to the Bottom on March 15, 2009 (boomark / email).