Akamai Technologies (AKAM) Investigating An Executive Related To The Galleon Case
October 30, 2009 5:34 AM
Akamai Technologies Inc. (Nasdaq: AKAM) has launched an investigation into allegations that an executive at AKAM provided insider information to employees at the Galleon Group.
Akamai's CEO Paul Sagan said Akamai hasn't been notified by any law-enforcement entity of any alleged wrongdoing, and has offered its assistance to authorities. "If we are able to determine that someone at Akamai has done something wrong, we will take swift and appropriate action," he said.
In the criminal complaint against Danielle Chiesi, investigators said an unidentified Akamai executive passed on inside information regarding its quarterly results to the employee of hedge fund New Castle Partners.
Raj Rajaratnam has said he is innocent of any wrongdoing. He asked a judge yesterday to reduce his $100 million bail and allow him to travel freely in the continental U.S.
