Rengan Rajaratnam, SEC Talking Deal

Jul 18 2014 | 11:12am ET

Following Rengan Rajaratnam’s acquittal on insider-trading charges earlier this month, the Securities and Exchange Commission is not eager to follow in prosecutors’ footsteps up the courtroom steps—and Rajaratnam himself isn’t especially eager for a reprise engagement.

Both sides have asked a federal judge for an extra two months’ delay in the civil case, brought alongside the criminal case against Galleon Group founder Raj Rajaratnam’s younger brother. The SEC and Rajaratnam’s lawyers are discussing a settlement.

Rajaratnam became the first person in the last five years to be acquitted of insider trading charges when a jury found that he had not conspired with his brother, who is serving an 11-year sentence. The SEC’s allegations—that he earned more than $3 million trading on confidential information—mirrors those of the criminal case, but the regulator has a lower burden of proof in a civil trial.


In Depth

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of