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DOW JONES NEWSWIRES
The U.S. Department of Justice on Thursday filed criminal charges against 14 people for their alleged involvement in a continuing probe of insider trading in the hedge-fund industry.
According to CNBC, the charges involve employees at Galleon Group, Schottenfeld Group, law firm Ropes & Gray and Incremental Cap. CNBC said the latest arrest involved trades in stock of 3Com Corp. (COMS) and Avaya Inc.
The arrests follow criminal charges last month against Raj Rajaratnam, founder
of hedge-fund Galleon Group, and five others in a
A press conference is planned at
A Galleon spokesman didn't immediately have a comment. Ropes & Gray didn't immediately return a call seeking comment. An SEC spokesman also declined comment.
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(END) Dow Jones Newswires11-05-09 1002ET Copyright (c) 2009 Dow Jones & Company, Inc.
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