Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, January 6, 2010

Feds Charge Rajaratnam with Paying for Inside Information

Federal prosecutors added another count to its criminal complaint against hedge fund manager Raj Rajaratnam, alleging that in 2006 he paid an unnamed source for advance information about the acquisition of ATI Technologies by Advanced Micro Devices and subsequently made a $19 million profit on trades.  Mr. Rajaratnam was indicted on Dec. 15 and pleaded not guilty.  WSJ, Galleon's Rajaratnam Paid Tipster, Filing Says.

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