Saturday, 1 November 2014
Last updated 20 hours ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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