John Koeltl News
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An insider-trading lawsuit filed by the U.S. Securities and Exchange Commission against Rengan Rajaratnam, the younger brother of imprisoned hedge-fund founder Raj Rajaratnam, was put on hold by a federal judge in New York.
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Regulators cleared Nasdaq OMX Group Inc.’s plan to pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s public debut, dealing a defeat to Wall Street firms that say they lost many times that amount.
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Rengan Rajaratnam, the younger brother of imprisoned hedge-fund founder Raj Rajaratnam, was taken into custody by FBI agents yesterday when he arrived at John F. Kennedy International Airport on a flight from Brazil, a person familiar with the matter said.
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Lynne F. Stewart , the lawyer convicted in 2005 of helping an extremist cleric pass messages from prison to his terrorist followers, was sentenced to 10 years in prison, compared with a 28-month term imposed earlier.
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Rengan Rajaratnam, the younger brother of imprisoned hedge-fund founder Raj Rajaratnam, was indicted by a federal grand jury on charges he took part in an insider-trading scheme tied to Galleon Group LLC.
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Arthur Nadel , the Florida money manager accused of defrauding investors of $168 million, was sentenced today to 14 years in prison.
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Dish Network Corp. is seeking $152 million from Walt Disney Co.’s ESPN for allegedly breaching a contract by offering competitors including Comcast Corp. better licensing terms for sports programming.
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Former Societe Generale trader Samarth Agrawal , accused of stealing the company’s computer code for high-frequency trading, was granted a delay of his trial after his lawyer said he has evidence which could exonerate him.
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Swiss Reinsurance Co. the world’s second-biggest reinsurer, won dismissal of an investor suit in which it was accused of failing to disclose risk that led to a 1.2 billion franc ($1.1 billion) derivative loss over credit- default swaps.
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Jerome Kerviel was sentenced to three years in prison and ordered to repay Societe Generale SA ’s 4.9 billion-euro ($6.8 billion) trading loss by a judge who said the former trader’s actions threatened the bank’s existence.
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