The U.S. Supreme Court has not yet issued a decision about whether or not it will review the insider trading conviction of former Qwest Communications CEO Joe Nacchio--and that might be good news for Nacchio. There was reportedly an assumption that the Supremes would announce their position on the case last week or this week, but the case was not listed this week among appeals that will be heard, nor appeals that are being denied.
This could mean that the Supreme Court will take a longer look at some of the details in the case, and might issue a decision about reviewing it formally when judges return to session in September. Further suggesting a possible review of the case is the news that the Supreme Court wants more data, including the entire record from Nacchio's earlier trials.
- InformationWeek has this story
Here's a probably-flawed idea for avoiding another Nacchio
Nacchio's legal team filed a Supreme Court appeal bid in March