US Says Fund Head Lied As Insider Trading Trial Wraps Up

Law360, New York (August 17, 2012, 5:31 PM EDT) -- California hedge fund founder Doug Whitman lied on the stand, prosecutors said Friday in closing arguments in the insider trading case against him, an effort to undercut the impact of his unusual decision to testify in his own defense.

The case now comes down to who the jury believes — Whitman or his chief accusers, three convicted insider traders who are testifying for the government in the hope of leniency. The founder of Whitman Capital LLC is accused of trading in Polycom Inc., Google Inc., and...
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