Rengan Rajaratnam Cleared of Insider-Trading Conspiracy

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Rengan Rajaratnam, the brother of Galleon Group LLC co-founder Raj Rajaratnam, became the first of at least 88 people charged in a federal crackdown on insider trading to escape conviction.

A federal jury in New York after little more than three hours of deliberations today found Rengan Rajaratnam not guilty of scheming with his older brother to commit insider trading in 2008.