Not Being Privy To Inside Information Was Grounds For A Level Three Rage Stroke At Galleon

Author:
Publish date:

After Raj Rajaratnam got what prosecutors say was an illegal tip about Goldman Sachs Group Inc. (GS), a partner at Galleon Group LLC who was excluded from the trade turned red-faced and angry, a witness at the Rajat Gupta trial testified. Prosecutors claim that Gupta, who was a Goldman Sachs director, tipped Rajaratnam on Sept. 23, 2008, that Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) would make a $5 billion investment in the firm...Ananth Muniyappa, then a Galleon trader, told jurors yesterday that Rajaratnam instructed him to hurriedly buy Goldman Sachs shares that day, before the Buffett deal was announced. Today, Muniyappa described the reaction of Leon Shaulov, the Galleon senior portfolio manager who hadn’t bought shares in Goldman Sachs, when the Buffett transaction became public and the shares rose after the close of trading on the New York Stock Exchange. “He was pretty angry,” Muniyappa told jurors. “Hair all over the place, red face, eyes popping out.” [Bloomberg]

Related