SEC Rebuts Galleon Insiders' Public Tip Claims

Law360, New York (April 27, 2011, 3:26 PM EDT) -- The U.S. Securities and Exchange Commission asked a New York federal judge Tuesday to reject arguments by Trivium Capital Management LLC and Polycom Inc. employees implicated in the Galleon Group LLC insider trading ring that they tipped only public information.

The SEC filed a suit against Trivium, co-founder Robert Feinblatt, analyst Jeffrey Yokuty, Polycom executive Sunil Bhalla and Market Street Partners employee Shammara Hussain in January, alleging they were involved in an insider trading scheme that netted illicit profits of $15 million.

The suit is part...
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