Tuesday, 23 September 2014
Last updated 5 hours ago
May 26 2011 | 10:28am ET
Galleon Group founder Raj Rajaratnam's lawyers have again asked a court to throw out his sweeping conviction on insider-trading charges.
Rajaratnam's lead attorney, John Dowd, said in a filing yesterday that "the government failed to introduce evidence sufficient to permit a reasonable juror to conclude beyond a reasonable doubt that Mr. Rajaratnam committed the crimes charged." Jurors convicted Rajaratnam of all 14 counts of securities fraud and conspiracy against him earlier this month.
Dowd's memorandum renews his previous motions to have an acquittal imposed; he sought one after the government rested its case, at the end of testimony and on the day of Rajaratnam's conviction.
U.S. District Judge Richard Holwell has still not ruled on any of those motions.
Rajaratnam faces decades in prison when he is sentenced this summer. Dowd has pledged to appeal his conviction, planning to focus on Holwell's decision to allow prosecutors to use wiretaps in the case.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.