Monday, 20 October 2014
Last updated 2 days ago
May 9 2013 | 11:31am ET
Rengan Rajaratnam can focus exclusively on staying out of a jail, a federal judge ruled, delaying the Securities and Exchange Commission's lawsuit against the brother of Galleon Group founder Raj Rajaratnam.
Rengan faces similar insider-trading charges to those that sent his brother to prison for 11 years, as well as similar civil allegations. Those will not be heard until after Rengan's criminal trial is completed; the SEC agreed to delay its case until at least Nov. 8.
"He's a small guy," Vinoo Varghese, Rengan's lawyer, said. "He's not his brother. All his efforts are focused on the criminal matter."
Prosecutors allege that Rengan earned $1.2 million as part of a conspiracy to trade technology stocks with his brother. Rengan, who formerly worked at SAC Capital Advisors, ran his own hedge fund before joining Galleon in 2006.
Rengan has denied the allegations, and returned to the U.S. from Brazil, where he had been living, to face the charges.
The next hearing in his criminal case will be on June 6.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...