1/11/2010 - United States v. Nacchio
In 2007, Joseph Nacchio was convicted of insider trading. On appeal, he argued that the trial court erred by excluding the expert testimony of Compass Lexecon expert Professor Daniel Fischel on the ground that his lawyers had not provided the Government with adequate disclosure. The Tenth Circuit initially agreed and reversed the conviction but the entire Circuit en banc reinstated the conviction on a 5-4 vote and the Supreme Court declined to hear the case. After trial, Professor Fischel, assisted by David Ross and Jessica Mandel of Compass Lexecon’s Chicago office, submitted an expert report on economic harm which the district court did not rely on and sentenced Nacchio to a prison term of six years. On appeal of this sentencing decision, however, the Tenth Circuit, repeatedly citing Professor Fischel’s expert report on economic harm, reversed the district court and sent the case back for resentencing. We are working with Sean Berkowitz and others of Latham & Watkins LLP who are representing Mr. Nacchio.