A big insider trading case involving highfalutin executives in the Bay Area? You knew that Chris Arguedas would be involved eventually.
Arguedas turns out to be representing Ali Hariri, an executive at Atheros Communications who has been implicated in the sprawling insider trading case surrounding the Galleon Group hedge fund.
The SEC is accusing Hariri of passing inside tips about Atheros to San Jose hedge funds Spherix Capital and Far & Lee, which traded on the information. More specifically, it’s alleged that Hariri told Ali Far, a hedge fund manager who also has a JD from Santa Clara University, about an earnings pre-announcement and earnings announcement at Atheros. Arguedas declined to comment beyond confirming that she is representing Hariri, who was a vice president at Atheros.
The Galleon insider trading case, which has netted a grip of hedge fund managers and tech executives, has been a boon to the local white collar bar. And everyone who hasn’t already scored some work in the case is trying.
— Zusha Elinson