Forfeiture of Gross Proceeds

The jury convicted Joe Nacchio on 19 counts of insider trading, with the counts covering trades in April and May and generating more than $50 million in gross proceeds.  The government has filed a memorandum with the court making it clear that it intends to ask for forfeiture of the "gross proceeds" of any sale involved in any count resulting in conviction.  The government's memorandum can be found at the DU Corporate Governance web site.