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Ex-Qwest CEO Nacchio wins $14 mln verdict vs Goldman unit, law firm says
2016-01-08 01:07:47| IT Services - Topix.net
Joseph Nacchio, the former Qwest Communications International [CTLQW.UL] chief executive, has won a $14.2 million jury verdict against a Goldman Sachs Group Inc unit and financial adviser over the sale of life insurance policies, his law firm said on Thursday. Nacchio and his wife said Goldman's Ayco financial planning unit and their former adviser David Weinstein breached their fiduciary duties by failing to tell them that the $95 million of variable life insurance they bought in 2000 would likely lapse before their life expectancies, the law firm Nagel Rice said.
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