Ex-Qwest exec asks high court to delay prison term
Business Law
Former Qwest CEO Joseph Nacchio asked the Supreme Court on Monday to put off the start of his prison term for his conviction on insider-trading charges.
His lawyers filed an emergency appeal with Justice Stephen Breyer after the federal appeals court in Denver turned down Nachio's latest bid to stay out of prison while he asks the high court to review his conviction in 2007 involving the sale of $52 million worth of stock in Qwest Communications International Inc.
Nacchio has been ordered to report to a prison camp in Minersville, Pa., by noon Tuesday to start a six-year term.
He says he should be allowed to remain free pending the Supreme Court's consideration of his case because there is a reasonable chance the justices will agree to consider overturning the conviction.
Federal prosecutors have opposed Nacchio's request.
They have said Nacchio hasn't met the requirement of showing that his Supreme Court appeal would probably win him a new trial or acquittal.
Related listings
-
US stocks surge on bank plan, rise in home sales
Business Law 03/23/2009Wall Street got the news it wanted and responded with a tremendous rally that propelled the Dow Jones industrials up nearly 500 points. Investors reignited the market's two-week rally, cheering the government's plan to help banks remove bad assets fr...
-
Hawaii Superferry ceases operations after ruling
Business Law 03/17/2009Hawaii's new inter-island ferry service has ceased operations in the wake of a state Supreme Court ruling. Hawaii Superferry, which operates an Oahu-Maui catamaran that can accommodate 836 passengers and about 200 vehicles, was forced into the move M...
-
Obama says US economy sound, reassures investors
Business Law 03/16/2009President Barack Obama on Saturday downplayed divisions between the U.S. and Europe over how to tackle the world's financial crisis and said China should have "absolute confidence" that its sizable investments in the United States are safe. In a conv...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.