Tuesday, 30 September 2014
Last updated 3 hours ago
May 8 2012 | 11:17am ET
Accused Raj Rajaratnam tipster Rajat Gupta has asked the judge in the case to exclude wiretapped phone calls featuring the Galleon Group founder, arguing that they are irrelevant or prejudicial.
Gupta's lawyer said that 26 of the recorded conversations on prosecutors' witness list deal with stocks that aren't part of the case against the former McKinsey & Co. chief. Another recording, of a conversation between Rajaratnam and Gupta, should be excluded because it includes no direct evidence of insider-trading and could prejudice the jury.
"It appears the government seeks to reprise the Rajaratnam trial in order to shore up its weak circumstantial case against Mr. Gupta, resorting to evidence about other companies and other conspiracies," they wrote.
Prosecutors made their case to include the tapes last week, arguing that they are all evidence of a conspiracy that Gupta was a part of. In March, U.S. District Judge Jed Rakoff rejected Gupta's motion to exclude all wiretaps from his trial, which is set to begin on May 21.
The government alleges that Gupta passed confidential tips to Rajaratnam about Goldman Sachs and Procter & Gamble. Gupta served on the board of directors at both companies.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...