Former Akamai Exec Settles SEC's Rajaratnam Tipping Action

Law360, New York (September 20, 2013, 4:42 PM EDT) -- A former Akamai Technologies Inc. executive on Friday settled a suit brought by the U.S. Securities and Exchange Commission over his role in the insider trading scheme run by now-imprisoned Galleon Group founder Raj Rajaratnam.

The SEC claims that Kieran Taylor, the ex-senior marketing director for Massachusetts-based Akamai, illegally tipped off hedge fund portfolio manager Danielle Chiesi about the Internet company’s plans to lower its revenue guidance for 2008. Chiesi then leaked the information to Rajaratnam, in order for both to trade ahead of the news....
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