Tuesday, 30 September 2014
Last updated 1 hour ago
Aug 18 2011 | 2:31am ET
For the second time in as many weeks, a federal judge has refused to vacate an insider-trading conviction.
U.S. District Judge Jed Rakoff yesterday rejected Winifred Jiau’s motion to set aside her June conviction on securities fraud and conspiracy charges. He did not elaborate, as U.S. District Judge Richard Holwell did last week in upholding Galleon Group founder Raj Rajaratnam’s conviction.
Jiau, a former consultant for expert-network Primary Global Research, was found guilty of selling confidential information about two technology companies to two hedge fund managers. But her lawyer, Joanna Hendon, had argued that prosecutors failed to show that those hedge fund managers actually traded on that information.
“The government’s repeated urging of the jury to convict Ms. Jiau on the basis of speculation was improper,” Hendon wrote. “Simply put, the government failed to introduce evidence that Sam Barai—the person to who Ms. Jiau conveyed information about [Marvell Technology Group]—caused, directly or indirectly, [hedge fund Barai Capital Management] to by a single share of Marvell securities based on that information.”
Prosecutors countered that their evidence “undoubtedly supported the jury’s verdict.”
Jiau faces up to 25 years in prison when she is sentenced on Sept. 21.
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…
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…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.