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Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. [1] In various countries, some kinds of trading based on insider information is illegal. The rationale for this prohibition of insider trading differs between countries/regions.
The Raj Rajaratnam/Galleon Group, Anil Kumar, and Rajat Gupta inside trading cases are parallel and related civil and criminal actions by the U.S. Securities and Exchange Commission and the United States Department of Justice against three friends and business partners: Galleon Group hedge fund founder-owner Raj Rajaratnam and former McKinsey & Company senior executives Anil Kumar and Rajat Gupta.
A massive insider trading case brought by the SEC revealed that some people working for SAC Capital routinely skirted the rules surrounding non-public information and allowed them to bag big ...
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud in the United States. It was promulgated by the U.S. Securities and Exchange Commission (SEC), pursuant to its authority granted under § 10(b) of the Securities Exchange Act of 1934. [1]
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Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump’s media business public.
On October 16, 2009, he was arrested by the FBI for insider trading, which also caused the Galleon Group to fold. [7] He stood trial in U.S. v. Rajaratnam (09 Cr. 01184) in the United States District Court for the Southern District of New York , and on May 11, 2011, was found guilty on all 14 counts of conspiracy and securities fraud. [ 8 ]
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