Call Shows Rajaratnam Knew Of Clearwire Deal: Feds

Law360, New York (March 24, 2011, 5:54 PM EDT) -- Prosecutors in New York played a phone recording Thursday in which accused insider trader Raj Rajaratnam was alerted to a Wall Street Journal article about a multibillion-dollar broadband investment, claiming it showed he previously knew of the deal.

In a March 25, 2008 call, played in the U.S. District Court for the Southern District of New York, Rajaratnam's brother Rengan Rajaratnam told the Galleon Group LLC founder “We're f---ed , man. It just hit the Wall Street Journal,” referring to a deal involving Clearwire Corp....
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