Rajaratnam Misses Court After Surgery, No Jury Deliberations Today

May 3 2011 | 4:08am ET

Medical matters dominated the sixth day of deliberations at the Raj Rajaratnam insider-trading trial, which ended as the five previous days ended: without a verdict.

Rajaratnam himself wasn't in the courtroom: The Galleon Group chief was excused by U.S. District Judge Richard Holwell, having had emergency surgery to treat a bacterial infection of his foot on Sunday.

"It is hoped that he will be recovered sufficiently to return to the courthouse this week," Rajaratnam's lawyer, John Dowd, said in a statement. "The court has approved this absence."

Holwell echoed that statement before dismissing the jury, telling them that Rajaratnam "couldn't be here and I've excused him for a good reason."

None of them will be there today: A juror's medical procedure has pre-empted the deliberations, which will enter their seventh day tomorrow. The delay came after the jurors sent Holwell a note yesterday—their first communication with the court since Wednesday. The note, dealing with the medical issue, was not released, but Holwell's letter to the jury was.

"No juror should feel any time pressure whatsoever," he wrote. "The jury will have all the time it needs to reach its verdict."

As for Rajaratnam, his spokesman, Jim McCarthy, said he understood that Rajaratnam would not have to be in court tomorrow. He added that he believed a verdict could be handed down whether or not Rajaratnam is present.

If Rajaratnam is convicted, he faces decades in prison.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

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

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of