Trial delayed in Indian American insider trading case

February 11th, 2011 - 2:50 pm ICT by ANI  

New York, Feb. 11 (ANI): A federal court judge in Manhattan on Thursday postponed the start date for the securities fraud trial of Galleon Group founder Raj Rajaratnam until March 8.

According to the New York Post, billionaire Rajaratnam has denied that he benefited from inside information passed to him by company insiders, including details about Advanced Micro Devices proposed merger with ATI Technologies in 2006.

Jury selection was scheduled to begin on February 28. No reason was given in court papers for the delay.

Of the 26 people originally charged in the case, 19 have already pleaded guilty, including former Galleon Group employees. (ANI)

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