Cases & Deals

Prominent hedge fund owner and portfolio manager appeals imposition of treble penalty and forfeiture in connection with insider trading allegations

Clients Rajaratnam, Raj

Jones Day is representing Raj Rajaratnam, a prominent hedge fund owner and portfolio manager, in his appeal on the imposition of a treble penalty and forfeiture in connection with allegations of insider trading. The appeal centers on the District Court's incorrect statutory calculation of the penalty, its refusal to consider the collateral criminal penalties already imposed on Mr. Rajaratnam, and its improper consideration of Mr. Rajaratnam's lawfully derived wealth in determining the appropriate penalty. This matter is one of the most high profile criminal and SEC cases in the government's recent insider trading initiative.

SEC v. Rajaratnam, No. 11 civ 5124 (S.D.N.Y) (Rakoff, J.); No. 17-1405 (2d Cir.)

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