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Legal News
18 Jul 2015
by Ashley Hogan

[JURIST] The US District Court for the Eastern District of Pennsylvania [official website] issued an indictment [PDF] Thursday against real estate lawyer Herbert Sudfeld for alleged insider trading. The charges include securities fraud, three counts of making a false statement to the Federal Bureau of Investigation [official website] and aiding … [read more]


Legal News
20 Apr 2015
by Valerie Howell

[JURIST] The US Supreme Court [official website] on Monday denied certiorari [order list, PDF] in appeal brought by Rajat Gupta, the former director of the Goldman Sachs Group Inc, for his 2012 insider trading conviction. The petition [text, PDF] submitted to the Supreme Court argued erroneous utilization of Federal Rule … [read more]


Legal News
12 Jan 2015
by Brittany Felder

[JURIST] The US Supreme Court [official website] on Monday rejected [order list, PDF] an appeal by Rajat Gupta, the former Goldman Sachs [corporate website] director convicted of insider trading. This rejection leaves in place a lifetime ban on serving as an officer or director of a public company and stems … [read more]


Legal News
11 Dec 2014
by Peter Snyder

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Wednesday overturned [opinion, PDF] the insider trading convictions of two former hedge fund traders. Defendants Todd Newman and Anthony Chiasson were convicted in May 2013 on charges of "conspiracy to commit insider trading and insider trading in … [read more]


Legal News
2 Jul 2014
by Peter Snyder

[JURIST] A judge for the US District Court for the Southern District of New York [official website] on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the brother Raj Rajaratnam [JURIST news archive], the founder of the now defunct Galleon Group [JURIST news archive]. US District Judge Naomi Reice … [read more]


Legal News
25 Mar 2014
by Nicholas Tomsho

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Tuesday affirmed [opinion, PDF] the insider trading conviction of former Goldman Sachs [corporate website] director Rajat Gupta. Judge Amalya Kearse rejected Gupta's claim that wiretap evidence should not have been admitted against him. Gupta was convicted of … [read more]


Legal News
26 Jul 2013
by Julie Deisher-Edwards

[JURIST] The US Attorney for the Southern District of New York [official website] on Thursday filed a announced charges [indictment, PDF; press release] against SAC Capital Advisors [corporate website], the hedge fund run by billionaire Steven Cohen [Forbes profile]. Although Cohen was not charged in the indictment, the Securities and … [read more]


Legal News
2 Jul 2013
by Julie Deisher-Edwards

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Monday affirmed [opinion, PDF] the 2011 convictions and sentences of three former Wall Street traders who were charged in a broad crackdown on insider trading which has led to charges against 81 people since October 2009. The … [read more]


Legal News
24 Jun 2013
by G. Redd

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Monday affirmed the conviction [opinion, PDF] of Galleon Group founder Raj Rajaratnam [JURIST news archive], rejecting his argument that wiretap evidence was used improperly to convict him. Rajaratnam was convicted in 2011 on 14 counts related to … [read more]


Legal News
26 Mar 2013
by Julie Deisher-Edwards

[JURIST] Rengan Rajaratnam, younger brother to former Galleon Group hedge fund manager Raj Rajaratnam [JURIST news archive], on Monday pleaded not guilty to charges of conspiring with his brother to trade on non-public information concerning Clearwire Corporate [website] and Advanced Micro Devices Incorporated [corporate website] in 2008. Rengan was charged … [read more]


Legal News
28 Dec 2012
by Benjamin Minegar

[JURIST] Former Galleon Group hedge fund manager Raj Rajaratnam [JURIST news archive] on Friday agreed to pay approximately USD $1.45 million to settle an ongoing civil lawsuit filed by the Securities and Exchange Commission (SEC) [official website]. After the SEC charged [press release; JURIST report] Rajaratnam with insider trading in … [read more]


Legal News
25 Oct 2012
by Jaimie Cremeans

[JURIST] The US District Court for the Southern District of New York [official website] on Wednesday sentenced [order, PDF] Rajat Gupta, former Goldman Sachs director, to one year in prison, one year of supervised release and a $5 million fine for his securities fraud convictions. Gupta was convicted [JURIST report] … [read more]


Legal News
29 Jul 2012
by Keith Herting

[JURIST] The US District Court for the Southern District of New York [official website] granted an emergency order Friday freezing the assets of traders operating in Hong Kong and Singapore. The Securities and Exchange Commission (SEC) [official website; press release] is accusing the brokers of insider trading related to … [read more]


Legal News
27 Jun 2012
by Saheli Chakrabarty

[JURIST] Investment research firm executive Tai Nguyen pleaded guilty [press release] to insider trading charges in connection with the investigation into Raj Rajaratnam's [JURIST news archive] Galleon fund. Nguyen, an executive of the research firm Insight Research LLC, surrendered to the FBI [Reuters report] Tuesday morning in compliance with the … [read more]


Legal News
15 Jun 2012
by Max Slater

[JURIST] Former Goldman Sachs [corporate website] director Rajat Gupta was convicted on Friday of three counts of securities fraud and one count of conspiracy to commit securities fraud. Gupta was also acquitted [AP report] on two other counts of securities fraud. Gupta was arrested [JURIST report] in October and charged … [read more]


Legal News
20 Jan 2012
by Maureen Cosgrove

[JURIST] US officials on Wednesday announced charges [text] against seven individuals purportedly involved in a $62 million insider trading scheme. The individuals, who worked for five different investment institutions, are accused of earning illegal profits on the basis of insider information regarding publicly traded companies, including Dell Inc. and NVIDIA. … [read more]


Legal News
6 Dec 2011
by Drew Singer

[JURIST] Former Galleon Group hedge fund executive Raj Rajaratnam [JURIST news archive] on Monday began serving his prison sentence at a Massachusetts military base. A judge in October sentenced [JURIST report] Rajaratnam to 11 years in prison, fined him $10 million and ordered he forfeit an additional $53.8 million. The … [read more]


Legal News
9 Nov 2011
by Jamie Davis

[JURIST] The US District Court for the Southern District of New York [official website] Tuesday ordered Galleon Group hedge fund founder Raj Rajaratnam [WSJ archive] to pay an unprecedented civil penalty for insider trading. In a thorough analysis of the appropriate amount of the fine, Judge Jed Rakoff handed down … [read more]


Legal News
26 Oct 2011
by Katherine Getty

[JURIST] Former Goldman Sachs [corporate website] Director Rajat Gupta was arrested [complaint, PDF] Wednesday on five counts of securities fraud and one count of conspiracy to commit securities fraud. The charges come in connection to his relationship with Raj Rajaratnam [JURIST news archive], co-founder of the Galleon Group, who was … [read more]


Legal News
14 Oct 2011
by John Paul Putney

[JURIST] A judge in the US District Court for the Southern District of New York [official website] on Thursday sentenced [press release, PDF] former Galleon Group hedge fund executive Raj Rajaratnam [JURIST news archive] to 11 years in prison, fined him $10 million and ordered he forfeit an additional $53.8 … [read more]

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