Civil-fraud case against Nacchio to move forward
Jeff Smith, Rocky Mountain News
Published April 26, 2007 at midnight
U.S. District Magistrate Judge Craig Shaffer on Thursday ruled that the civil-fraud case against former Qwest CEO Joe Nacchio should move forward.
Nacchio's attorney, Joel Silverstein, argued that discovery, or the exchange of evidence, should remain frozen pending the outcome of Nacchio's expected appeal of last week's conviction on criminal insider-trading charges.
But Shaffer disagreed, saying there are other interests to take into account, including the interests of the other defendants. There also are civil-fraud claims pending against former chief operating officer Afshin Mohebbi, former chief financial officer Robert Woodruff and former accountants James Kozlowski and Frank Noyes.
Former CFO Robin Szeliga and former sales executive Gregory Casey have settled civil-fraud claims with the Securities and Exchange Commission.
Silverstein said he intends to file a formal motion to freeze the
discovery involving Nacchio.
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