Motley Rice Defeats Rajaratnam's RICO Suit For Good

Law360 (March 26, 2020, 10:35 PM EDT) -- A New York federal judge on Thursday tossed out fraudster Raj Rajaratnam's Racketeer Influenced and Corrupt Organizations Act suit accusing law firm Motley Rice LLC of paying former federal agents for dirt on him, holding that he ultimately failed to allege the firm engaged in a pattern of racketeering activity.

Rajaratnam was a hedge fund manager at the now-defunct Galleon Group before his 2011 conviction for insider trading. In a separate, ongoing suit in New Jersey federal court, Rajaratnam is accused of funding the Liberation Tigers of Tamil Eelam, or the LTTE, a U.S.-designated terrorist group in Sri Lanka. Motley Rice represented...

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