Saturday, 27 December 2014
Last updated 3 days ago
May 19 2014 | 3:04pm ET
The case against Galleon Group founder Raj Rajaratnam's younger brother keeps shrinking.
About a month before Rengan Rajaratnam is to stand trial for alleged insider trading, prosecutors dropped two of the five remaining counts against him. Two other counts were dismissed two weeks ago, after the judge presiding in the case expressed skepticism about them.
Rajaratnam, who worked at Galleon and who is accused of conspiring with his brother to illegally trade shares of Clearwire Corp. and Cisco Systems in 2008, now faces only two counts of securities fraud and one of conspiracy.
Rajaratnam, who returned to the U.S. from Brazil to face the allegations, has denied any wrongdoing, arguing that prosecutors have not accused him of knowing that his alleged tipsters benefitted personally by passing confidential information.
Raj Rajaratnam was convicted of insider trading three years ago, as is serving an 11-year prison sentence.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.