Bro Of Jailed Galleon Founder Delays Own SEC Case 6 Months

Law360, New York (May 8, 2013, 4:52 PM EDT) -- The brother of imprisoned Galleon Group LLC founder Raj Rajaratnam on Wednesday won a six-month stay of a U.S. Securities and Exchange Commission suit accusing him of insider trading, as he prepares to defend himself from parallel criminal case.

A New York federal court granted the stay of the suit accusing Rengan Rajaratnam of belonging to a sprawling network of insider traders headed by his older brother, his attorney Vinoo P. Varghese confirmed Wednesday. The SEC did not oppose the request.

"The criminal case takes precedence,"...
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