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online.wsj.com - 10/26/2009

Probe Widening in Galleon Case

— online.wsj.com — Federal investigators in the Galleon Group case have requested trading records from a hedge-fund manager who once... worked for Steven A. Cohen's SAC Capital Advisors and who employed a cooperating witness in the insider-trading case announced last ... (more) Probe Widening in Galleon Case

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securitiesdocket.com - 10/29/2009

CNBC Video: Galleon Pays Big for an “Edge”

— securitiesdocket.com — Henny Sender of the Financial Times reports that Galleon paid out nearly $250 million to its banks... last year in return for confidential information not disclosed to most investors. Visit msnbc.com for Breaking News , World News , and News about the Economy (more) CNBC Video: Galleon Pays Big for an “Edge”

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Comments vote downundo vote up bcarton posted 10/29/2009posted this

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Friday Watch
Between the Hedges — ... . Wall Street executives say the line taken by the UK ’s Financial Services Authority contrasts with the more flexible approach of the Federal Reserve and could lead to uneven pay scales for bankers in similar jobs on opposite sides of the Atlantic . - Concerns about the business practices of Galleon hedge fund founder Raj Rajaratnam and his associates were raised inside ...

Galleon fears raised in 2001
FT Alphaville — Concerns about the business practices of Galleon hedge fund founder Raj Rajaratnam and his associates were raised inside JPMorgan Chase as far back as 2001, according to internal memos seen by the FT. Rajaratnam, who was charged with five others this month in an alleged insider trading scheme, has strongly denied the charges. Separately ...

Galleon Warnings May Have Come A Decade Ago
24/7 Wall St. — ... The SEC missed a number of signals in the Bernie Madoff case. Some concerns were raised by his clients and Barron’s years before he was caught. It seems that a similar pattern holds true with Raj Rajaratnam and his firm Galleon. Several press reports say that information was being passed between an Intel (NASDAQ:INTC) and Galleon as early as 1998. An FT story claims that  a JP Morgan (NYSE:JPM) employee raised a red flag about Galleon in 2001. The SEC has said a number of times that the reason that large incidents of fraud are missed by its investigators is that ...

JPMorgan Said to Have Galleon Concerns in 2001
DealBook — ... at the bank’s alternative asset management arm, said the unit “should reduce our allocation” in Galleon’s technology fund, pointing to what it described as “more negative news about Raj and his cohorts,” The Financial Times reported. The JPMorgan note alleged that the principals of Galleon “liked to operate in the ‘gray areas’ ” of the markets, The Financial Times said. “If these allegations are true, there are some serious issues about business conduct,” the memo reportedly said. Go to Article from The Financial Times » ...

Not only avoiding Madoff, $JPM had suspicions about #Galleon as far back as 2001 #InsiderTrading; IR firms under scrutiny; $INTC hires law firm Orrick; Goel free on $750K bail
Wall Street Folly — [image] Galleon fears raised in 2001 – Financial Times Concerns about the business practices of Galleon hedge fund founder Raj Rajaratnam and his associates were raised inside JPMorgan Chase as far back as 2001, according to an internal company document seen by the Financial Times…. The 2001 “call note” written by an analyst at JPMorgan’s alternative asset management arm said the unit “should reduce our allocation” in Galleon’s flagship technology fund, citing what it described as “more negative news about Raj and his cohorts”…… ...

Today’s Best Market Rumors (10/30/2009) (SAPE)(DOX)(CTSH)
24/7 Wall St. — ... Updated throughout the day. Venezuela may have gold reserves with a total value over $13 billion.  (CNBC) JP Morgan (NYSE:JPM) may have had concerns about Galleon as early as 2001 (Financial Times) Likely near-term tech acquisition targets include Sapient (NASDAQ:SAPE), Computer Sciences (NYSE:CSC), WNS (NYSE:WNS), Amdocs (NYSE:DOX), Cognizant Technology (NASDAQ:CTSH) and ExlService (NASDAQ:EXLS) (Reuters) Time Warner (NYSE:TWX) may spin-off AOL in December  (TheStreet.com) CIT ...

Opening Bell: 10.30.09
Dealbreaker — Galleon Fears Raised In 2001 (FT) An analyst in JPMorgan's alternative asset management arm said the unit "should reduce our allocation" in Galleon's flagship technology fund, citing what he described as "more negative news about Raj and his cohorts." Bankers Expect Rising Bonus Pay To Break Records (Bloomberg) And some people don't seem to be very happy about that: "If we were looking for a sense of Wall Street to be, 'we're hit hard, I'm going to make less money,' these results don't show it," said J. Ann Selzer, president of Selzer ...