Filed under: People , Investing With a mountain of evidence ranging from a cooperating witness to wiretapped confessions by an accomplice all but admitting guilt, prosecutors in the Galleon Group insider trading case might think they have an airtight case. But billionaire Galleon founder Raj Rajaratnam seems to be bracing for a fight. Last week Rajaratnam’s lawyers took to the offensive and succeeded in having cooperating witness Roomy Khan’s criminal background included in the hearings . Khan, a former employee of both Intel and Galleon, is a central witness against Rajaratnam. Khan has already pleaded guilty to trading on and passing on insider information as part of a plea agreement. Continue reading Galleon’s Raj Rajaratnam gears up for a legal showdown Galleon’s Raj Rajaratnam gears up for a legal showdown originally appeared on DailyFinance on Sun, 22 Nov 2009 19:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Galleon’s Raj Rajaratnam gears up for a legal showdown

Filed under: Company News , Economy , Investing We already knew that Raj Rajaratnam , the $1.5 billion net worth head of the now-liquidating Galleon Group who is free after posting $100 million bail, allegedly traded on inside information. But up until Saturday morning, I had thought Rajaratnam’s alleged insider information pertained only to company quarterly earnings reports. As the Galleon probe spreads to another hedge fund, it appears a new kind of insider information may have contributed to Galleon’s ill-gotten gains. Thanks to the Wall Street Journal , we now know that Rajaratnam used another, perhaps even more useful form of information — how many shares of a particular stock a major broker is buying or selling at any given time. For example, the Journal reports that Galleon executive Gary Rosenbach forced his Hambrecht & Quist (H&Q) broker to divulge how many shares of a certain stock big firms, like Fidelity Investments, were trying to sell. Continue reading Galleon used another form of insider information Galleon used another form of insider information originally appeared on DailyFinance on Sun, 25 Oct 2009 10:45:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Galleon used another form of insider information

Filed under: Energy , Company News , Technology , McDonald’s , Green Rooftop solar power is the next item on the menu for Chipotle Mexican Grill ( CMG ). The popular burrito chain announced today it had plans to install solar panels atop 75 restaurants during the next 12 months. Collectively, the panels will produce 500 kilowatt hours of electricity. That will make Denver-based Chipotle the largest direct producer of solar power in the restaurant business, according to the company’s press release and an article in Environmental Leader . Continue reading Chipotle rolls out rooftop solar plan: A new era of green fast food joints? Chipotle rolls out rooftop solar plan: A new era of green fast food joints? originally appeared on DailyFinance on Wed, 21 Oct 2009 10:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Chipotle rolls out rooftop solar plan: A new era of green fast food joints?

Filed under: Company News , Economy , Investing Galleon Holdings, the $3.7 billion hedge fund run by accused insider-trader Raj Rajaratnam (pictured), who is now free on $100 million bail, is shutting down . The big reason is that many of its investors — college endowments such as Colgate University and state pension funds including the Virginia Retirement System, according to Reuters — are not comfortable keeping their money with a firm whose CEO has been indicted. Don’t you just love it when the free market works? I realize that Wall Street does not have an entirely free market, because when it gets in trouble, the U.S. steps in with $23.7 trillion — a nice return on Wall Street’s $5 billion investment in Washington over the last decade. But in this case, the free market looks to be rapidly hoovering up the little mess left in Galleon’s wake. Continue reading Galleon shutters $3.7 billion hedge fund — no government bailout required! Galleon shutters $3.7 billion hedge fund — no government bailout required! originally appeared on DailyFinance on Wed, 21 Oct 2009 10:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Galleon shutters $3.7 billion hedge fund — no government bailout required!