Deals wrap: Galleon trial to be a “battle royal”
The insider trading case against Galleon Group hedge fund founder Raj Rajaratnam finally goes to trial next week. Rajaratnam faces up to 25 years in prison if convicted of conspiracy and securities fraud but plans to fight the charges and clear his name in court.
“All signs are pointing to a battle royal,” one securities attorney said of the upcoming trial in an interview with Reuters correspondent Grant McCool. According to a Wall Street Journal report, Goldman Sachs CEO Lloyd Blankfein has agreed to testify for the U.S. government at the trial. Here’s a rundown of some of the other main players involved in the case.
Should Americans be alarmed that Germany’s Deutsche Boerse is taking over Big Board parent NYSE Euronext? Not really seems to be the consensus with lawmakers and regulators who took part in the Reuters Future Face of Finance Summit this week.
Fresh signs that Chrysler is getting closer to going public again. The automaker is in advanced talks with banks on financial details that will help clear the way for the initial public offering later this year, several people with knowledge of the discussions told Reuters.
“Two months into the year, M&A is off to its best start since Lehman failed and the flow of deals slowed to a trickle,” writes WSJ’s Stephen Grocer.