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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK - - x SECURITIES AND EXCHANGE COMMISSION 0 9 Civ. 8811 (JSR) Plaintiff, OPINION AND ORDER v - RAJ RAJARATNAM, e t al., Defendants. - - x JED S . RAKOFF, U.S.D.J. Pending before th e Court i s t h e motion of the Securit sand Exchange Commission ("SEC") f o r summary judgment against o n e o f t h e fe w remaining defendants i n t h e above captioned insider trading case, R a j Rajaratnam. 1 T he SEC alleges that t h e defendant engaged in a massive insider trading scheme, using h i s position a s head o f Galleon Management Co., a multi billion dollar hedge fund, t o trade o n material, nonpublic information in violation o f Section 10(b) o f t h e Securities a n d Exchange A c t o f 1934 a n d Section 17(a) of the Securities a n d Exchange A c t o f 1933. S e e Amended Complaint ("Am. CompI. ") 1 . Specifically, t h e instant motion seeks summary judgment against Rajaratnam with respect to his alleged insider trading on shares o f Intel Corp., Clearwire Corp., Akami Technologies, Inc., AT I Technologies, Inc., a n d PeopleSupport, Inc. S e e Plaintiff Securities a n d Exchange Commission's Memorandum o f Law i n Support o f It s Motion for Although t h e SEC's motion also sought summary judgment against defendant Galleon Management LP , t h e SEC a n d Galleon subsequently settled, a nd t he Court issued a final consent judgment against Galleon o n October 27, 2011. 1 Case 1:09-cv-08811-JSR Document 251 Filed 11/08/11 Page 1 of 9

Judge Rakoff's ruling in S.E.C. v. Raj Rajaratnam

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