The insider trading case against Raj Rajaratnam seemed very tight. The prosecutors had him on tape discussing the inside information from wiretaps. So why did he fight his insider trading charges and get a lesser sentence than the 11 years that was handed down last week? Ola Leaves. Suketu Mehta in the Daily Beast discussed [...]
Tag Archives: Raj Rajaratnam
Insider Trading: A Dirty Business
One of the major tactics of hedge funds is to “arbitrage reality”, operating with a better understanding of a company and its stock price than other participants in the market. In a legitimate operation, that means lots of research. On the wrong side it means getting inside information about a company’s earnings, upcoming deals, and [...]
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. But probably not. The case [...]
Insider Trading Debates
Insider trading is back in the news. The SEC has shown heightened interest in prosecuting these cases, evidenced by the high-profile arrest of Galleon hedge fund manager, Raj Rajaratnam, on civil and criminal charges. One thing to keep in mind is that insider trading is not defined in the federal securities laws. The SEC has [...]
Insider Trading Enforcement
Either the Securities and Exchange Commission has stepped up its enforcement of insider trading or it’s doing a better job of publicizing its enforcement. Earlier this week, the SEC announced its case against Raj Rajaratnam and his New York-based hedge fund advisory firm Galleon Management LP. On September 23, they charged Reza Saleh with insider [...]
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