Former Qwest CEO Sues Ex-Attorneys For Negligence
NEWARK, N.J. (AP) – Former Qwest Communications CEO Joseph Nacchio is suing the lawyers who represented him in his insider trading case, claiming they were negligent and “grossly overbilled” him.
Attorney Bruce Nagel filed the malpractice lawsuit for 61-year-old Nacchio in U.S. District Court in Newark on Wednesday.
It claims Herbert Stern and the Roseland-based law firm of Stern & Kilcullen billed Nacchio more than $25 million, including tens of thousands of dollars for staff breakfasts, underwear for lawyers and in-room movies.
A message left for Stern at his office was not immediately returned.
Nacchio is serving a 70-month prison sentence after being convicted in 2007 for illegally selling $52 million of stock in Denver-based Qwest based on inside information.
(Copyright 2011 by The Associated Press. All Rights Reserved.)