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Ex-Galleon Employee Says Rajaratnam OK'd Tips

Law360 (March 29, 2011, 2:04 PM EDT) -- A former Galleon Group LLC employee testified Tuesday in the insider trading trial of Raj Rajaratnam in New York, saying his ex-boss gave him clearance to gather sensitive, nonpublic information from company insiders and an investment banker at Morgan Stanley.

Adam Smith, a former analyst and portfolio manager at the hedge fund firm, told jurors in the U.S. District Court for the Southern District of New York that he passed along the tips to Rajaratnam in person, over the phone and through deliberately cryptic emails....
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