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.
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