Raj Rajaratnam, founder of hedge fund manager Galleon Group, was convicted on May 11, 2011 of fourteen counts of securities fraud and conspiracy to commit securities fraud arising out of years of alleged insider trading.  He moved for a judgment of acquittal on all counts on the basis that the government failed to present sufficient evidence to convict him.  The Trial Court has upheld the conviction in its entirety.  This article offers a comprehensive overview of the Court’s decision and legal analysis.  See also “Investment Research and Insider Trading on ‘Outside Information’,” Hedge Fund Law Report, Vol. 4, No. 29 (Aug. 25, 2011).