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Ex-Akamai Executive Settles SEC Suit Over Rajaratnam Tips

A former Akamai Technologies Inc. executive agreed to pay more than $145,000 to settle a Securities and Exchange Commission lawsuit accusing him of trading on inside information and passing tips used by convicted Galleon Group LLC co-founder Raj Rajaratnam.

The SEC today sued Kieran Taylor, a former senior marketing director at Cambridge, Massachusetts-based Akamai, in federal court in Manhattan. The agency accused Taylor, who hasn’t been charged with a crime, of trading on secret information about Akamai earnings and passing illegal tips that were shared with others including Rajaratnam, who made $5.1 million in illegal profit from them.