Galleon Groups’ wind-down is 90% complete as of last week, according to a report today from Reuters.
Galleon couldn’t have been given a better time to get out of the market. Had the Feds announced insider trading charges even this summer — let alone in the middle of the financial crisis last year — the sale of its stock holdings would have yielded far less profit.
For example, Galleon’s top 10 holdings would have been worth $419.48 million on June 30, 2009, the date of the group’s most recent 13-F SEC filing. But if we assume those 10 stocks were sold at close-of-market prices Friday, Raj Rajaratnam and Co. would have gotten $543.48 million, or more than $124 million more than in June.
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