Rajaratnam Civil Trial Could Be Postponed, After All

Feb 22 2010 | 12:06pm 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

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.