Galleon Management Pleadings and Briefs

On October 16, 2009, the Securities and Exchange Commission (SEC) instituted a civil injunctive action in the United States District Court for the Southern District of New York charging Raj Rajaratnam and his hedge fund advisory firm Galleon Management LP with perpetrating a massive insider trading...

The First Galleon Defendant is Sentenced

Mark Kurland became the first defendant to be sentenced in the Galleon insider trading cases, discussed here . He had previously pleaded guilty to conspiracy and securities fraud. The court sentenced Mr. Kurland to serve twenty seven months in prison followed by two years of probation. He will also...

The SEC’s New Insider Trading Case: A Preview of the Galleon Trial

The Galleon insider trading investigations continues to spawn more actions. Roomy Kahn, familiar to those who have followed the Galleon saga, and others players and even some allegations from the earlier cases form the backdrop of the SEC's latest insider trading to evolve from these inquiries...

The Galleon Insider Trading Case: A Key Guilty Plea

In what is beginning to look like a continuing stream of guilty pleas, Danielle Chiesi pleaded guilty in the Galleon insider trading cases. She is one of the original defendants in the Galleon cases. Ms. Cheisi pleaded guilty to three counts of conspiracy to commit securities fraud. She had been...

Two More Galleon Related Insider Trading Cases

As the Galleon trial approaches the insider trading ring that that began with two Ropes and Gray associates and the Galleon investigation keep spawning insider trading cases. Two new SEC civil insider trading actions and a criminal case were filed. In SEC v. Smith , Civil Action No. 11-CV-0535...

The Latest Galleon Case: Illegal Tips from a Goldman Director

On the eve of the criminal insider trading trial of Raja Rajaratnam the SEC unveiled the latest chapter in the investigation into the founder of Galleon Management LLC: he had been illegally tipped by a former Goldman Sachs and current Proctor and Gamble board member. In an Order for Proceedings...

The Gupta Insider Trading Case – Significant Questions

The Gupta insider trading case is a significant, high profile action by an SEC Enforcement program which is working hard to restore its lost luster. Mr. Gupta is a former Goldman Sachs director, a firm which is an icon of Wall Street. He is a current director of Proctor and Gamble, a company with...

Inside The Mind of An Inside Trader

No Big 4 audit firms or their partners have been named in the insider trading scandal surrounding the now-defunct hedge fund Galleon Management. But the SEC has accused one of the most prominent businessmen ever implicated in such crimes, Rajat Gupta, a former McKinsey & Company Global Managing...

Arnold & Porter Webcast: The Government's Current Focus on Insider Trading

The ongoing Galleon trial, and all the related SEC and criminal investigations, have renewed the focus on insider trading. What is it? When do you become restricted? How do you handle an investigation if misfortune strikes and you become involved in one? The law of insider trading is surprisingly...

Another Galleon Defendant Is Sentenced to Prison

Another defendant in the on going Galleon insider trading investigation was sentenced to prison. This time it was Jason Goldfarb who previously pleaded guilty. The court sentenced Mr. Goldfarb to three years in prison. U.S. v. Goffer, No. 1:10-cr-00056 (S.D.N.Y.). Mr. Goldfarb was involved in the...

SEC Settles Two Galleon Related Insider Trading Cases

The SEC resolved two Galleon related insider trading cases. One involved Robert Feinblatt, a co-founder and former principal of hedge fund Trivium Capital Management LLC. SEC v. Feinblatt, Civil Action No. 11-CV-0170 (S.D.N.Y.). The other was against Anthony Scolaro, a former portfolio manager at...

This Week in Securities Litigation (October 14, 2011)

This week three Galleon related defendants were sentenced to prison for insider trading, including Raji Rajaratnam. The Commission filed another significant market crisis case naming the senior officers of a failed bank as defendants. The Commission also filed a settled insider trading case, an action...

I Wonder if We Will Laugh at his Phone When He Gets Out?

You could watch the movie Wall Street and many things may still ring true. Of course its the 1980s, so the clothes and the women's hair stick out. But the icon is the big brick cell phone. It was huge and expensive for its time. And all it did was makes phone calls. It was enough of an iconic...

Gupta Is Charged with Insider Trading – Absent the Wire Taps

Former Goldman Sachs and Procter & Gamble director Rajat Gupta was charged with insider trading in a criminal indictment and an SEC complaint. He is alleged to have repeatedly tipped Raji Rajaratnam who is also named as a defendant in the Commission's complaint. These may well be the most...

More Galleon Related Insider Trading Cases

Roomey Kahn, the former Intel executive turned government informant who helps spur the Galleon inquiry at the outset continues to aid enforcement officials in developing insider trading cases. Now she is a key witness against her neighbor and friend, Douglas Whitman, president and managing member...

Second Circuit Rejects Galleon Found’s Insider Trading Appeal

Raj Rajaratnam, the founder of the Galleon Group hedge fund lost his appeal on insider trading charges. U.S. v. Rajaratnam, Docket No. 11-4416-cr (2 nd Cir. Decided: June 24, 2013). Mr. Rajaratnam was convicted on five counts of conspiracy to commit securities fraud and nine counts of securities...