More

Raj Rajaratnam Denies Insider Trading Allegations, Says Trades Were Based On Analyst's Work

First Posted: 03/18/10 06:12 AM ET Updated: 05/25/11 03:45 PM ET

Inspiring
 Greedy
 Typical
 Scary
 Outrageous
 Amazing
 Innovative
 Infuriating
Hedge Fund Insider

Bloomberg:

Attorneys for Galleon Group founder Raj Rajaratnam denied a U.S. regulator's claims he engaged in insider trading, saying he based investments on analyst research and media reports and that government wiretaps were illegal.

Rajaratnam's filing in response to a Securities and Exchange Commission lawsuit, which came today in Manhattan federal court, includes a broad attack on the regulator's lawsuit. He will likely advance the same arguments in a pending criminal case against him.

Read the whole story: Bloomberg

FOLLOW HUFFPOST BUSINESS

Attorneys for Galleon Group founder Raj Rajaratnam denied a U.S. regulator's claims he engaged in insider trading, saying he based investments on analyst research and media reports and that government...
Attorneys for Galleon Group founder Raj Rajaratnam denied a U.S. regulator's claims he engaged in insider trading, saying he based investments on analyst research and media reports and that government...
Related News On Huffington Post:
 

Read more from Huffington Post bloggers:
Dan Dorfman

Dan Dorfman: SEC, NYSE Investigate Trading In Buffett's Big Rail Deal

The sizeable number of SEC stock trading investigations indicates that it's business as usual for people who want to beat the system, even if it means chancing fines, jail time and disgrace if they're caught.

Filed by Carlos Cagin  | 

More in Business...


 
 
  • Comments
  • 3
  • Pending Comments
  • 0
  • View FAQ
Comments are closed for this entry
View All
Recency  | 
Popularity
photo
HUFFPOST SUPER USER
washlib
155 Fans
01:01 PM on 11/25/2009
hopefully the court will decide that. The evidence appears to be quite damn1ng, however..
Permalink  |
photo
comicpro
Stupid Should Be Painful
486 Fans
07:48 PM on 11/24/2009
Looks like dude ate most of his evidence! Damn looks like he is about to pop. Other than that GUILTY all counts.
Permalink  |
photo
HUFFPOST SUPER USER
jeffp26
316 Fans
03:25 PM on 11/24/2009
Hello? If Mr. Rajaratnam's trades were legally based, then why do his lawyers need to have the wrietaps thrown out?

I think they doth protest too much.
Permalink  |