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Former CEO's Insider Trading Convictions Reversed; Expert Improperly Excluded

By Shari Allison

U.S. v. Nacchio, -- F.3d --, 2008 WL 697382 (10th Cir. 3/17/08) - reversal of former Qwest CEO's convictions on 19 counts of insider trading because testimony of defense expert was wrongly excluded. The defense adequately disclosed the expert's opinions and qualifications under Rule 16; the district court was wrong in excluding testimony on the basis that the defense improperly failed to disclose expert methodology and the error was not harmless. The government could have contested methodology at a Daubert hearing. It was OK to exclude evidence of certain classified information; the evidence would not have exonerated Mr. Nacchio. Read opinion for lengthy analysis upholding sufficiency of the evidence and correctness of jury instructions on various counts.continue to full post

Full post as published by Tenth Circuit Blog on March 19, 2008 (boomark / email).