The Galleon Case Is Nowhere Near Over

With the conviction of Raj Rajaratnam on 14 counts of conspiracy and securities fraud, the Galleon Group insider trading case moves to its next phase….

There will undoubtedly be a number of challenges by the defense to Judge Holwell’s evidentiary rulings and the jury instructions, but the key issue — as it has been since the case started in October 2009 — is the wiretaps. In a sense, the conviction of Mr. Rajaratnam was won in large part once Judge Holwell rejected the defense motion to suppress the wiretap evidence….

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