Professor Bainbridge Cited in Wall Street Journal Editorial on Galleon Group Hedge Fund

October 25, 2009 -- Professor Stephen Bainbridge is cited in a Wall Street Journal editorial on accusations against the Galleon Group hedge fund.

Stephen Bainbridge, a UCLA law professor, described on his blog this growing conflict between the need for more information to make markets more efficient and prices more accurate versus a regulatory focus on equal access to information. "The SEC has always wanted a rule of equality of access: If you have more information than anybody else, you can't trade." The issue: "Can the SEC prove not just that Rajaratnam had better access to information than the market generally, but that he got that information by being a participant after the fact in the tipper's breach of fiduciary duty?"

To read the editorial, please click here.