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Courtroom Showdown in Sweeping Trading Probe
Friday, March 4, 2011 - 10:02am | 213Read More...A sweeping insider trading case that shook the hedge fund world is finally set for trial, with onetime billionaire Raj Rajaratnam fighting to stay out of prison in a courtroom drama over corporate secrets, tapped telephones and friends-turned-government witnesses. Jury selection in the case against...
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Rajat Gupta Stepping Down From P&G Board (PG)
Tuesday, March 1, 2011 - 2:06pm | 67Read More...Rajat Gupta is stepping down from the Procter & Gamble (NYSE: PG) board. This comes after Gupta was charged by the SEC for insider trading, by providing Raj Rajaratnam information on Goldman Sachs (NYSE: GS) and Procter & Gamble (NYSE: PG) that was not public.
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Shocking Insider Trading Accusations Against Former Goldman Sachs Board Member (GS)
Tuesday, March 1, 2011 - 1:06pm | 288Read More...The SEC has just unveiled a case against Rajat Gupta, who is a former board member of Goldman Sachs (NYSE: GS) and Procter & Gamble (NYSE: PG). The SEC is alleging that Gupta tipped off billionaire hedge fund manager Raj Rajaratnam about a capital injection from Berkshire Hathaway (NYSE:BRK.B)...
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Rajat Gupta Arrested On Insider Trading (GS, BRK-A, PG)
Tuesday, March 1, 2011 - 12:49pm | 171Read More...Ex-Goldman Sachs (NYSE: GS) board member Rajat Gupta has been arrested on an insider trading case, giving hedge fund manager Raj Rajaratnam information that's been deemed illegal. Rajaratnam, who managed the Galleon fund, made over $900,000 in profits after Gupta tipped Rajaratnam off over the...
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Taking The "Fun" Out Of Hedge Funds
Thursday, December 30, 2010 - 10:27am | 262Read More...On the precipice of another new year, the hedge fund industry is fighting to overcome its troubles of the last 12 months. The New York Post reports that in 2010, the average hedge fund closed up a mere 7.5%, compared with the average stock market indexes like the S&P 500 (NYSE: SPY), which is...
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Galleon's Rajaratnam Wins With Wiretap Hearing
Friday, August 13, 2010 - 3:24pm | 227Read More...Raj Rajaratnam may not win his case against insider trading, but he has won a small victory Reuters reports. Rajaratnam has won a small victory when the judge in his case, Hon. Richard Holwell, threw out the wiretap evidence that U.S. prosecutors were preparing to use against him. "Whether or not...
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Buffett’s Goldman (GS) Deal Being Probed In Galleon Group Insider Trading Case
Friday, April 23, 2010 - 5:58pm | 295Read More...In the Galleon Group insider trading case, the focus has now turned to Warren Buffett’s Goldman Sachs (NYSE: GS) deal, which came during the peak of the financial crisis. The Wall Street Journal, citing a person close to the situation, has reported that before the public announcement of the deal...
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Goldman Sachs (GS) Director Probed In Galleon Insider Trading Case
Thursday, April 15, 2010 - 6:14pm | 393Read More...The Wall Street Journal, citing people close to the situation, has reported that prosecutors are probing whether Rajat Gupta, a director at Goldman Sachs (NYSE: GS), gave inside information about the Wall Street bank to Galleon hedge-fund founder, Raj Rajaratnam. However, in a statement responding...
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Goldman’s Rajat Gupta To Be Examined In Galleon Case (GS)
Thursday, April 15, 2010 - 12:41pm | 142Read More...Goldman Sachs (NYSE: GS) Group Director, Rajat Gupta, is in the crosshairs of prosecutors probing the Galleon Group case. According to Reuters, the authorities are examining whether Rajat Gupta provided Raj Rajaratnam with inside information about Goldman Sachs (GS). However, a spokesperson for the...
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Former Intel (INTC) Executive Pleads Guilty To Fraud
Monday, February 8, 2010 - 7:57pm | 188Read More...Rajiv Goel, a former Intel Capital director, pleaded guilty on Monday to the charge that he had received money from friend and Galleon Group hedge fund founder Raj Rajaratnam. "Although we lived very different lives, we kept in close contact and I received money from him for personal financial...
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Rajaratnam Loses Bid To Lower Bail
Tuesday, January 12, 2010 - 7:26pm | 119Read More...Embattled hedge fund manager Raj Rajaratnam has lost his bid to have his $100 million bail reduced. A federal judge ruled today that there wasn't reasonable grounds to lower the bail which has been secured by $20 million in assets. "I don't feel there's anything in the record that $20 million of...
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Superseding Indictment To Be Filed Against Rajaratnam
Wednesday, January 6, 2010 - 3:50pm | 177Read More...Numerous sources are reporting that Galleon Group founder Raj Rajaratnam, who is the target of a sprawling insider trading indictment, paid a source for information regarding a takeover by American Micro Devices (NYSE: AMD) of ATI Technologies. Rajaratnam allegedly reaped a $19 million windfall by...
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The Story Behind Galleon Group Insider Trading Case (PLCM, INTC)
Wednesday, December 30, 2009 - 10:46am | 192Read More...The Wall Street Journal has reported how the Securities and Exchange Commission (SEC) unearthed the insider trading at Galleon Group. Andrew Michaelson, a lawyer with SEC, was investigating the younger brother of Galleon founder, Raj Rajaratnam in 2007, in a case that eventually did not result in...
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NY Judge Accepts Guilty Plea of Galleon Key Witness Roomy Khan
Thursday, December 17, 2009 - 3:11pm | 90Read More...A federal judge accepted the guilty plea of Roomy Khan, the key co-operating witness in the insider-trading case against Raj Rajaratnam, founder of hedge-fund firm Galleon Group. Khan was employed with Intel Corporation (NASDAQ: INTC). A federal magistrate judge in Manhattan approved a U.S....
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Federal Grand Jury Accused Rajaratnam and Chiesi For Fraud And Conspiracy (PLCM, AKAM, GOOG, IBM)
Wednesday, December 16, 2009 - 10:25am | 168Read More...The Galleon Group LLC founder Raj Rajaratnam and Danielle Chiesi, an executive at New Castle Funds LLC, were accused by a federal grand jury of insider trading to profit from stock trades. According to Bloomberg, both of them were accused for security frauds and conspiracy stemming from the trades...
