On November 5, 2009, the Securities and Exchange Commission (Commission) filed an amended complaint in the United States District Court for the Southern District of New York in its insider trading action against billionaire Raj Rajaratnam and his New York based hedge fund advisory firm Galleon Management LP. The SEC’s amended complaint names thirteen new defendants and alleges insider trading that cumulatively generated more than $33 million in illicit gains. Among those identified today by the SEC were three hedge fund managers, three professional traders at Schottenfeld Group, a New York based trading firm, and a senior executive at Atheros, a California based developer of networking technologies..
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