(Bloomberg) -- Federal jurors convicted Joseph Nacchio, former chief executive of Qwest Communications International Ltd., of insider trading after concluding he misled investors in an April 2001 conference call.
A jury in Denver yesterday found Nacchio guilty of 19 counts of insider trading for selling $52 million in Qwest shares from April 26 to May 29, 2001, based on private warnings that the company would miss revenue targets. He was found not guilty on 23 counts related to earlier trades totaling $49 million.
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