Rajaratnam’s arguments are not persuasive.
— Judge José A. Cabranes, writing for a three-judge panel of the Second Circuit in upholding the insider trading convictions of former hedge fund manager Raj Rajaratnam. On appeal, Rajaratnam unsuccessfully argued that federal prosecutors obtained a wiretap warrant with a “reckless disregard for the truth.” Rajaratnam will serve the remainder of his 11-year sentence.
(If you’re interested, continue reading for the Second Circuit’s opinion.)
Heading To Legalweek? Come Join Above The Law!
Meet the team in NYC at our Monday night happy hour — 3/9 at 7pm. RSVP required.
Second Circuit Opinion: U.S. v. Rajaratnam
Rajaratnam Conviction Upheld by Appeals Court [DealBook / New York Times]