General News

Pravin Rao commented on the Galleon Group insider trading case, which many defense attorneys claim highlights a potential growing collaboration between criminal prosecutors and civil agencies that could lead them to reconsider whether clients should cooperate with securities regulators.  "Lawyers may be less likely to tell clients to cooperate with regulators under the cooperation initiative – especially if it opens up the client to criminal liability because of the SEC's increased communication with prosecutors," said Rao.