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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...

SEC v. Galleon Mgmt., LP, 09 Civ. 8811

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 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 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...

Ex-Goldman Director Sues SEC After Civil Charges

NEW YORK - (AP) A former Goldman Sachs board member accused the Securities and Exchange Commission on Friday of unfairly spoiling his reputation by accusing him of passing along inside information without ever bringing the accusations in federal court. A lawyer for Rajat Gupta responded to the civil...

The Verdict in the Rajaratnam Insider Trading Case

Raj Rajaratnam was found guilty on all fourteen counts of conspiracy and insider trading. U.S. v. Rajaratnam , Case No. 1:09-cr-0118 (S.D.N.Y.). The fact that the founder of the Galleon hedge fund was found guilty despite a valiant effort by the defense team should not be a huge surprise to anyone...

Raj is Guilty. Nobody Is Surprised.

If you read about the evidence, you can't really be surprised that Raj Rajaratnam was found guilty of insider trading. That he was found guilty on all counts was mildly interesting, but not much. We may get some interesting new legal developments in insider trading law from the appellate decisions...

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...

Former Galleon Chief Ordered To Pay SEC Record $92.8 Million Penalty

NEW YORK - (Mealey's) A federal judge in New York on Nov. 8 ordered former Galleon Management Co. General Partner Raj Rajaratnam to pay a nearly $93 million civil penalty to the Securities and Exchange Commission for his role in a massive insider trading scheme ( Securities and Exchange Commission...

Judge Orders Former Galleon Partner To Pay Record $92.8 Million Penalty

NEW YORK - (Mealey's) A federal judge in New York on Nov. 8 ordered former Galleon Management Co. General Partner Raj Rajaratnam to pay a nearly $93 million civil penalty to the Securities and Exchange Commission for his role in a massive insider trading scheme ( Securities and Exchange Commission...

The Week In Securities Litigation: SEC Settles 2 Insider Trading Cases

The SEC settled two insider trading cases this week in which S.A.C. Capital was named as a relief defendant. In one it obtained the largest payment to date in an insider trading case, about $600 million. Reportedly S.A.C. Capital will fund the settlement. The second was one of the Dell insider trading...

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...

Former Goldman Sachs Director Ordered To Pay $13.9 Million Penalty To Settle SEC Suit

By Timothy Raub NEW YORK — (Mealey’s) A federal judge in New York on July 17 ordered a former Goldman Sachs Group Inc. director to pay a $13.9 million penalty to settle claims with the Securities and Exchange Commission that he provided inside information to a former hedge fund manager...

Former Goldman Sachs Director Raj Rajaratnam Ordered to Pay $13.9M Penalty To Settle SEC Insider Trading Suit

NEW YORK — (Mealey’s) A federal judge in New York on July 17 ordered a former Goldman Sachs Group Inc. director to pay a $13.9 million penalty to settle claims with the Securities and Exchange Commission that he provided inside information to a former hedge fund manager as part of an insider...

#1 in Financial Fraud Law: US Attorney Preet Bharara

When we here at the Financial Fraud Law Blog think about financial fraud law, it does not take long before we think about the U.S. Attorney for the Southern District of New York, Preet Bharara. In a little over four years as U.S. Attorney – following his unanimous confirmation by the Senate –...

Gupta’s Efforts to Overturn Insider Trading Convictions Rejected

The Second Circuit Court of Appeals upheld the conviction of former Goldman Sachs director Rajat Gupta for illegal tipping. Mr. Gupta was convicted of conspiracy and three substantive counts of securities fraud, centered on furnishing illegal tips to his long time friend and business partner Raj Rajaratnam...