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Trouble

Raj Rajaratnam was found guilty of 14 conspiracy and securities fraud charges of insider trading. Rajaratnam is the founder of Galleon Group, a hedge fund. He remains free on bail until sentencing on July 29. He faces 15 1/2 to 19 1/2 years in federal prison.

Summit Business Media had its pre-arranged reorganization plan confirmed in the U.S. Bankruptcy Court for the District of Delaware and that the company will emerge from the bankruptcy process in two weeks after eliminating $140 in debt. The B2B publisher declared bankruptcy on Jan. 25. At that point, it was majority-owned by Wind Point Partners.