Judge Won’t Junk Rajaratnam Brother Charges

Apr 21 2014 | 10:43am ET

A federal judge agrees with Rengan Rajaratnam that four of the insider-trading counts against him are flawed. But she’s not ready to let the Galleon Group founder’s younger brother off the hook just yet.

U.S. District Judge Naomi Reice Buchwald on Friday refused to dismiss four securities fraud counts, saying she’d allow prosecutors to decide whether or not to proceed on them. Buchwald, who last month called those counts “very strained,” said Friday that they were “internally inconsistent” with a conspiracy charge against Rajaratnam.

Rajaratnam is set to face trial in June on allegations that he conspired with his brother, Raj, to illegally trade shares of two technology firms. He has denied the allegations and argued that all of the counts against him should be dismissed.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of