Rajaratnam Civil Trial Could Be Postponed, After All

Feb 22 2010 | 11:06am ET

The start of the civil insider-trading trial of Galleon Group founder Raj Rajaratnam may not be as “fixed” as previously thought.

U.S. District Judge Jed Rakoff said on Friday that he would consider postponing the case against Rajaratnam and New Castle Partners founder Danielle Chiesi until after the related criminal trial, which begins in October. Rakoff had previously described the Aug. 2 start date of his trial as “firm and fixed.”

The judge was apparently swayed by the fact that “all the relevant parties are seeking the stay,” a reference to the fact that the defense, criminal prosecutors and Securities and Exchange Commission, which brought the civil complaint, are in favor of a postponement.

But Rakoff merely took those requests “under advisement,” and did not say when he would make a decision. He did make clear his discomfort with the prospect that the SEC trial wouldn’t begin until the middle of next year, which he described as a “fundamentally weighty reason” to proceed on Aug. 2.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note