Wednesday, December 16, 2009

Galleon Watch – 12/16/09 Update

According to the New York Times, both Raj Rajaratnam and Danielle Chiesi were formally indicted by a grand jury yesterday. They will face trial in New York.

So what about Moffat and the other executives arrested two months ago? According to this Bloomberg article, Moffat’s attorney is expecting that his case will be postponed. Both sources suggest that there may be a deal in the works.

Updated 12/17 - And indeed the deadline for indictments against Moffat and the others arrested on October 16th has been delayed until January 15th.

Stay tuned…

If you missed past installments of the Galleon Watch, catch up here.

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