Thanks to the immediacy of Twitter, financial reporters — and the rest of the world — now can follow in real time the unfolding legal defense activities of former hedge fund manager Raj Rajaratnam.
Mr. Rajaratnam, founder of now-shuttered Galleon Group, has vehemently proclaimed his innocence of insider-trading charges leveled at him last fall by the Securities and Exchange Commission and the U.S. Attorney's office in New York. That crusade now continues on RajDefense.com.
Mr. Rajaratnam isn't actually Tweeting about his activities or posting his opinions. He's leaving that to his legal team, which is working in concert with self-described “assertive communications” specialist CounterPoint Strategies Inc.
Jim McCarthy, Mr. Rajaratnam's CounterPoint spokesman, said the website and Twitter feed solve the “practical problem” of providing beat reporters and the curious public with up-to-date information, including court filings, announcements from defense attorneys at Akin Gump Strauss Hauer & Feld LLP, news clips and analysis, and a section that corrects “media inaccuracies.”
“The website enables us to set the record straight on inaccuracies or breaches in journalism standards,” Mr. McCarthy said in an interview. — Christine Williamson