A U.S. judge has postponed the criminal trial of Galleon Group hedge fund founder, Raj Rajaratnam, The Wall Street Journal reports. The trial over charges of insider trading has been delayed until March 8 from Feb. 28, 2011.
Rajaratnam was arrested and charged with conspiracy and securities fraud in October 2009, adds Reuters. Rajaratnam, who has pleaded not guilty and is free on bail, was accused of making Galleon carry out improper trades in a variety of companies based on inside information shared by company insiders and others.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Reuters.