The Securities and Exchange Commission today charged additional individuals and entities in its SEC v. Galleon insider trading case, including a New York hedge fund advisory firm, its hedge fund manager, an analyst at the hedge fund, a senior corporate executive in the technology sector, and an investor relations firm employee.

The SEC alleges that Robert Feinblatt — a co-founder and principal of New York-based hedge fund investment adviser Trivium Capital Management LLC — and Trivium analyst Jeffrey Yokuty engaged in insider trading in the securities of Polycom, Hilton, Google and Kronos. The SEC further alleges that Polycom senior executive Sunil Bhalla and Shammara Hussain, an employee at investor relations consulting firm Market Street Partners that did work for Google, tipped the inside information that enabled the insider trading by Feinblatt and Yokuty on behalf of Trivium's hedge funds for illicit profits of more than $15 million.

“Today's action reveals disturbingly corrupt arrangements — faithless company executives who secretly pass corporate information to hedge fund managers willing to violate the law for profit,” said Robert Khuzami, Director of the SEC's Division of Enforcement. “Market participants need to understand that by engaging in such behavior they invite SEC scrutiny, and we will uncover their conduct and take aggressive action.”

Read the complete Futuresmag.com story, “Hedge fund hit in Galleon-related SEC action.”

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