Rajaratnam Needn't Turn Over Wiretaps Yet: 2nd Circ.

Law360, New York (February 17, 2010, 1:46 PM EST) -- A federal appeals court has temporarily stayed a judge's order that Galleon Group LLC founder Raj Rajaratnam and his co-defendant in an insider trading case turn over government wiretaps of their activities to the U.S. Securities and Exchange Commission.

Judge Gerard E. Lynch of the U.S. Court of Appeals for the Second Circuit stayed the Feb. 9 wiretaps ruling until a three-judge motions panel can determine whether the order should be stayed pending the defendants' appeal.

The Second Circuit has given the SEC until Friday to...
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