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Journalism of Courage
Galleon,which is winding up after its founder was charged with masterminding the biggest-ever insider-trading scheme involving hedge funds,has sold almost half its stake in one of the three Indian listed firms it directly holds shares,stock exchange data showed.
New York-based Galleon sold 950,000 shares in Indian engineering firm Shriram EPC at 223 rupees ($4.8) a piece to cut its stake in the firm to about 2.4 per cent from 4.6 per cent,data from the National Stock Exchange showed.
Probe widens to SAC Capital
CHICAGO: Federal prosecutors in the Galleon Group case have sent a subpoena to a former employee of Steven A Cohens SAC Capital Advisors,a sign that the scope of the problem into the largest hedge fund insider trading case is expanding,the Wall Street Journal reported,citing people familiar with the matter. Reuters
