Raj Rajaratnam’s Day In Court

  • 16 May 2011 at 12:44 PM

Raj Rajaratnam Juror Offers Insider Tips For Any Would-Be Insider Traders

By

Gorman

So you’ve started a hedge fund and have decided the best way to maximize returns for investors is by trading on material non-public information. With the government’s crackdown on insider trading, odds are you will ultimately get caught and, if you’ve suffered blunt trauma to the head, will decide to take your chances at a trial by jury rather than settle. If you’d like some level of assurance you’ll have better odds than Raj Rajaratnam, who was deemed guilty by Day 2 of deliberations (despite the jury taking 12 days to spit it out), consider these tips from one of the women, Leila Gonzalez Gorman, who helped sent him away. Read more »

  • 11 May 2011 at 3:07 PM

Raj Rajaratnam’s High-Priced Legal Team Pleased With Thrilling 23-14 Victory

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“We started out with 37 stocks, we’re down to 14,” defense attorney John Dowd said today after his client was found guilty on 9 counts of insider trading and 5 counts of conspiracy. “The score is 23 to 14 for the defense. We’ll see you in the Second Circuit.” Read more »

  • 11 May 2011 at 10:39 AM

Raj Rajaratnam Found Guilty

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On all 14 counts (9 counts of insider trading, 5 of conspiracy). Raj-Raj now faces up to 19.5 years in prison. Read more »

  • 09 May 2011 at 1:17 PM

Raj Rajaratnam Jury Still Listening To Wiretaps

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We’re into Week 3 of deliberations on the insider trading case, with jurors asking to play conversations between Raj and his former friends/sources of what may or may not have been material non-public information, in addition to a phone call between Raj and his little brother, who could not match big bro’s skills in (ALLEGED) insider trading and lady slaying, though he tried his hardest. [Reuters, WSJ]

  • 04 May 2011 at 10:21 AM

Did Raj Rajaratnam Rub His Athlete’s Foot All Over A Just Dismissed Juror?

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We’re not saying there’s any foul play afoot at the Raj Rajaratnam trial, we’re just saying it’s interesting that the jury couldn’t come to a decision re: the Galleon founder’s guilt or innocence after 7 days of deliberating and now, they have to start all over due to the dismissal of one guy for “medical reasons,” the very same week Rajaratnam gets a doctor’s note saying he can’t report to court due to emergency surgery he had on his foot over the weekend to treat a “bacterial infection.” Read more »

  • 03 May 2011 at 11:57 AM

Rajaratnam Jury Still Hasn’t Decided Guilt Or Innocence, Raj’s Foot Still Hurts

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The Raj Rajaratnam jury has moved onto Day 7 of its deliberations re: whether or not Raj is guilty on 5 counts of conspiracy and 9 counts of securities fraud. Meanwhile, the Galleon founder is on Day 3 or 4 of bed rest and reruns, following emergency surgery over the weekend to treat a “bacterial infection” on his foot.

  • 29 Apr 2011 at 1:03 PM

Jury Still Not Sure Whether Or Not Raj Rajaratnam Made Those Trades By Being ‘Amazingly Well-Educated On The Issues’ Or Through Inside Information

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The jurors, lead by a noted “Man V. Food” fan, has got nothing after 5 days. They’re cutting out early this afternoon and will resume deliberations on Monday. In the meantime- Read more »

  • 27 Apr 2011 at 3:20 PM

Raj Rajaratnam’s Handlers Think Articles About Alleged Insider Trading Make Him Sound Bad Because Reporters Are Trying To Get In Good With The Government

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Keeping watch over the 20 or so journalists reporting on Rajaratnam’s trial is Jim McCarthy, who handles the defendant’s media relations. McCarthy, the founder of New York-based CounterPoint Strategies LLC, isn’t shy about his views of the coverage. “Some of the coverage has been” — he paused for five seconds as he considered his words — “distorted and irresponsible,” McCarthy said in an interview yesterday. He’s particularly critical of some reporters and news organizations who he claims “have been slanting their coverage” in hopes of “gaining favor with the government,” he said. [Bloomberg]

  • 26 Apr 2011 at 5:02 PM

What Does Raj Rajaratnam’s Lunch Order Say About Him

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As you may know, we’re on Day 2 of jury deliberations in the Raj Rajaratnam insider trading case. The Galleon Group founder has been charged with 14 counts of securities fraud and conspiracy and faces up to 20 years in prison. Rajaratnam (and his 7-man legal team) have been in court waiting for the verdict but not saying much or indicating whether or not he’s confident he’ll get off, or scared out of his mind. Or is he? Despite not speaking to reporters or gesturing with his hands, Raj has been giving some clues, if we can crack them. Today, they came in the form of a sandwich. Read more »

  • 26 Apr 2011 at 3:49 PM

Will A Bittter Knicks Fan/Juror Take His Anger Out On Raj?

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It’s possible, as this damn insider trading trial has left him with little time to focus on his team. Read more »

  • 25 Apr 2011 at 11:33 AM

Raj Rajaratnam’s Lawyer Is Confident The Jury Will Do The Right Thing

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As previously mentioned, the jury on the Raj Rajaratnam insider trading trial are expected to begin deliberating today. While the Galleon founder is, of course, innocent until prove guilty, much of the evidence brought by the prosecution has made him look not so good, including but not limited to recordings of Raj complimenting Danielle Chiesi on how she “played” a tech exec into giving her material non-public information and one of him telling a friend he knew to buy shares of a company because “one of our guys is on the board,” as well as testimony from former McKinsey exec, Anil Kumar, that Raj paid him $1 million for his tip about AMD’s acquisition of ATI and the previously undisclosed fact that the defense’s big witness, Richard Schutte, was gifted with a $15 million investment in his hedge fund by the Rajaratnam family two weeks prior to speaking glowingly of Raj.

Having said that, Raj’s lead attorney, John Dowd, knows the men and women of the jury will be ‘fair’ (i.e. find his client not guilty), because 1. Every witness brought by the prosecution is a liar, especially that Anil Kumar guy and 2. He wouldn’t have picked them if they weren’t so awesome. Read more »