Rajaratnam Fights Galleon Fund Trustee's $135M Fraud Suit

Law360, New York (August 11, 2017, 4:40 PM EDT) -- Convicted insider trader Raj Rajaratnam and two other executives with his defunct hedge fund Galleon Group asked a New York federal judge on Thursday to dismiss a bankruptcy trustee's $135 million fraud case against them, saying the complaint "completely distorts the reality" of the company's wind-down.

Rajaratnam, who remains behind bars in Massachusetts, and Galleon chiefs George Lau and Richard Schutte were accused earlier this year of giving themselves undeserved payouts while they went about shuttering Galleon Management LP following government accusations that Rajaratnam raked in...
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