New York (HedgeCo.net) – The government has rested its case against hedge fund founder Raj Rajaratnam in Manhattan court yesterday, according to Bloomberg news.

The defense asked the Judge asked to throw out the case. “At this time we move for a judgment of acquittal,’” one of Rajaratnam’s lawyers said, according to Bloomberg. “The government has failed to prove their case.’’ The defense attempted to show that their client traded on a “mosaic’’ of publicly available information, not insider tips.” The news source said.

If the Judge doesn’t dismiss the case, the defense is slated to present it’s case starting April 11. Rajaratnam may or may not testify, his plea remains a solid “not guilty.”

Alex Akesson
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