Rajaratnam Brother Seeks Dismissal Of Insider-Trading Allegations

Feb 10 2014 | 10:32am ET

Rengan Rajaratnam wants to be treated like his older brother, convicted insider-trader Raj Rajaratnam, his lawyers told a court on Friday.

The younger Rajaratnam sought to have the insider-trading charges against him dismissed, arguing that prosecutors failed to allege that his alleged tipsters benefitted personally by passing confidential information. His lawyers note the government was required to show that at Raj Rajartnam's 2011 trial.

"Principles of fairness dictate that Rengan, at a minimum, should be tried under the same standard as Raj," the former's lawyers wrote.

Rengan Rajaratnam was charged last year with conspiring with his brother at Galleon Group to illegally trade shares of two technology companies. He has pleaded not guilty, and is set to face trial on June 17.

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