A judge delivered more bad news to disgraced hedge fund titan Raj Rajaratnam this week, refusing to dismiss an Alien Tort Statute case alleging that he and his father provided financial support to a Sri Lankan terrorist group. The ruling is also a reminder that ATS claims can still gain traction in the wake of an unfavorable U.S. Supreme Court ruling.
In a 24-page decision issued Monday, U.S. District Judge Jose Linares in Newark ruled that he has jurisdiction over claims that Rajaratnam and his father aided and abetted alleged crimes against humanity committed by the Liberation Tigers of Tamil Elam, which has been designated a terrorist group by the U.S. government. Linares did dismiss parallel claims against an alleged front group for LTTE.
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