Friday, 29 August 2014
Last updated 15 hours ago
Mar 28 2014 | 9:30am ET
For prosecutors, the trial of Raj Rajaratnam's younger brother is off to a rocky start, even before it actually begins.
The federal judge presiding over the insider-trading case against Rengan Rajaratnam suggested that two of the seven counts against the former Galleon Group employee are based on a "very strained" argument and should be dismissed ahead of the June trial. U.S. District Judge Naomi Reice Buchwald yesterday said the counts related to Raj Rajaratnam's purchase of Clearwire Corp. shares in 2008 were based on a flawed reasoning.
The judge directed prosecutors to "discuss it with others at a higher pay grade."
Rengan Rajaratnam was charged last year with conspiring with his brother to illegally trade shares of Clearwire and Cisco Systems. He denies the allegations and has asked for all of the counts to be dismissed, arguing that prosecutors failed to allege that his supposed tipsters benefitted personally by passing confidential information.
Buchwald said she would rule on that motion at a later date.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...