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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...