U.S. government attorneys argue in a new filing the the U.S. Supreme Court should not conduct a review of former Qwest CEO Joe Nacchio conviction on insider trading. The filing comes about a month after the U.S. Chamber of Commerce and other groups submitted filings supporting Nacchio's bid for a Supreme Court review, and more than two months after Nacchio's legal team actually submitted its own bid for review.
Nacchio's team has said that the information at the heart of the insider trading charges was immaterial, while government lawyers have argued--and argue again in this filing--that the key information was in fact material.
- BusinessWeek has this Associated Press story
Nacchio's legal team submitted their Supreme Court appeal back in March