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DOJ not to appeal Tenth Circuit sentencing ruling in Nacchio case

By Douglas A. Berman

In posts here and here discussing the Tenth Circuit panel's important ruling that reversed the sentence imposed on former Qwest CEO Joe Nacchio following his conviction for insider trading, I suggested that the Justice Department might not even bother to seek en banc or SCOTUS review of the panel work.  Thus, I was not too surprised by this new post, headlined "Analysis: New approach to 'insider' gains," by Lyle Denniston at SCOTUSblog. Here are the basics: A major dispute over how severely to punish a corporate ?insider? who makes gains from tradmg in the company?s stock with information other investors don?t have seemed a likely bet for Supreme Court review. But that won?t happen now: the Justice Department has decided not to test the question further, after losing on it recently in the Tenth Circuit Court...continue to full post

Full post as published by Sentencing Law and Policy on August 11, 2009 (boomark / email).