Civil case
SEC v. Galleon Management, LP, Raj Rajaratnam and others
- Authority
- US District Court for the Southern District of New York
- Case number
- 09-CV-8811 (JSR)
- Filed or opened
- 16 October 2009
- Organization
- Galleon Group LLC
- Current stage
- Final. Civil penalty judgment entered 8 November 2011S4
- Outcome
- US$92.8 million civil penalty against Rajaratnam, disgorgement deemed satisfied by the criminal forfeitureS4
Decisions and steps
Claims this case bears on
- Supported90The SEC said in November 2011 that a federal court ordered Raj Rajaratnam to pay a US$92.8 million civil penalty in its insider trading case.Regulator statement, 8 November 20112 records citedMarket conduct
- Partly supported74The SEC said the US$92.8 million penalty against Raj Rajaratnam was the largest ever assessed against an individual in an SEC insider trading case.Regulator statement, 8 November 20111 record citedMarket conduct
Sources
- S1Tier A SEC Charges Billionaire Hedge Fund Manager Raj Rajaratnam with Insider TradingUS Securities and Exchange Commission. Regulator press release. 16 October 2009.Supports the SEC charges and the more than US$25 million illicit gains figure. It is an allegation, not a finding.
- S2Tier A SEC v. Galleon Management, LP, et al., Litigation Release No. 21255US Securities and Exchange Commission. Regulator press release. 16 October 2009.Supports the case caption, the Southern District of New York court and case number 09-CV-8811 (JSR). It states allegations only.
- S4Tier A SEC Obtains Record $92.8 Million Penalty Against Raj RajaratnamUS Securities and Exchange Commission. Regulator press release. 8 November 2011.Supports the US$92.8 million civil penalty, Judge Rakoff, the 8 November 2011 date and the SEC's own largest ever characterization. The record claim is the SEC's own wording.