Pulse2 Technology and Social Media News » Raj Rajaratnam http://pulse2.com Sun, 27 May 2012 18:16:46 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Former AMD CEO Hector Ruiz Involved In Galleon Insider Trading Case http://pulse2.com/2009/10/28/former-amd-ceo-hector-ruiz-involved-in-galleon-insider-trading-case/ http://pulse2.com/2009/10/28/former-amd-ceo-hector-ruiz-involved-in-galleon-insider-trading-case/#comments Wed, 28 Oct 2009 13:00:40 +0000 Amit Chowdhry http://pulse2.com/?p=21656 Continue reading →]]> hector-ruiz
This past March, Advanced Micro Devices, Inc. (NYSE:AMD) hired Bruce Claflin to replace Hector Ruiz. It is a good thing that Ruiz was replaced back then because the former AMD Chairman is now involved with a controversial case.

Supposedly Ruiz is being investigated for providing insider information to the Galleon Group’s Danielle Chiesi. Chiesi was arrested earlier this month for generating over $25 million in illegal profits. Ruiz had become chairman of GlobalFoundries Inc., an AMD spin-off, after being replaced by Claflin.

Galleon Group portfolio manager and founder Raj Rajaratnam was also arrested for receiving insider information. Galleon Group is a hedge fund based in New York. Rajaratnam said that he plans to fight the insider-trading charges.

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