July 2, 2014
by Peter Snyder
A judge for the US District Court for the Southern District of New York on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the brother Raj Rajaratnam, the founder of the now defunct Galleon Group. US District Judge Naomi Reice Buchwald ruled that a reasonable jury would ...[read more]
June 24, 2013
by G. Redd
The US Court of Appeals for the Second Circuit on Monday affirmed the conviction of Galleon Group founder Raj Rajaratnam, rejecting his argument that wiretap evidence was used improperly to convict him. Rajaratnam was convicted in 2011 on 14 counts related to insider trading and sentenced to 11 ...[read more]
March 26, 2013
by Julie Deisher-Edwards
Rengan Rajaratnam, younger brother to former Galleon Group hedge fund manager Raj Rajaratnam, on Monday pleaded not guilty to charges of conspiring with his brother to trade on non-public information concerning Clearwire Corporate and Advanced Micro Devices Incorporated in 2008. Rengan was ...[read more]
December 28, 2012
by Benjamin Minegar
Former Galleon Group hedge fund manager Raj Rajaratnam on Friday agreed to pay approximately USD $1.45 million to settle an ongoing civil lawsuit filed by the Securities and Exchange Commission (SEC). After the SEC charged Rajaratnam with insider trading in 2009, the US District Court for the ...[read more]
October 26, 2012
by Katherine Bacher
On October 26, 2011, former Goldman Sachs director Rajat Gupta was arrested for securities fraud and conspiracy to commit securities fraud. The US Securities and Exchange Commission (SEC) claimed that Gupta disclosed non-public materials from board meetings to the co-founder of the Galleon Group, ...[read more]
July 20, 2012
by Cody Harding
On July 20, 2011, Danielle Chiesi was sentenced to 30 months in prison for her involvement with the hedge fund New Castle Funds LLC and Galleon Group founder Raj Rajaratnam. Chiesi was indicted and pleaded guilty to three counts of conspiracy to commit securities fraud in the US District Court for ...[read more]
June 27, 2012
by Saheli Chakrabarty
Investment research firm executive Tai Nguyen pleaded guilty to insider trading charges in connection with the investigation into Raj Rajaratnam's Galleon fund. Nguyen, an executive of the research firm Insight Research LLC, surrendered to the FBI Tuesday morning in compliance with the ...[read more]
May 11, 2012
by Cody Harding
On May 11, 2011, a jury in the US District Court for the Southern District of New York convicted Galleon Group hedge fund founder Raj Rajaratnam on 14 counts of insider trading. Rajaratnam was convicted of providing multiple hedge funds with material nonpublic information about several ...[read more]
December 6, 2011
by Drew Singer
Former Galleon Group hedge fund executive Raj Rajaratnam on Monday began serving his prison sentence at a Massachusetts military base. A judge in October sentenced Rajaratnam to 11 years in prison, fined him $10 million and ordered he forfeit an additional $53.8 million. The 11-year sentence was ...[read more]
November 9, 2011
by Jamie Davis
The US District Court for the Southern District of New York Tuesday ordered Galleon Group hedge fund founder Raj Rajaratnam to pay an unprecedented civil penalty for insider trading. In a thorough analysis of the appropriate amount of the fine, Judge Jed Rakoff handed down a $92.8 million penalty ...[read more]

Support JURIST

We rely on our readers to keep JURIST running

 Donate now!

© Copyright JURIST Legal News and Research Services, Inc., 2013.