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Write-Offs: 03.29.11

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$$$ In one email dated March 9, 2005, after he attended a Morgan Stanley conference earlier that month, Mr. Smith updated Mr. Rajaratnam on the progress of the deal. "I had a chance to update and we are still on track," he said in the email. Galleon and Mr. Rajaratnam bought shares based on the information, Mr. Smith said. When the deal was announced, on June 15, 2005, the stock jumped from over $19 to nearly $22. Mr. Smith testified that he had a "sinking feeling" that Galleon had bought shares based on the information he had provided. "I had a moment of worry," he said. But he said the moment passed quickly. "No one said anything to me," he said. [WSJ]

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