Deliberations resume at NY insider trading trial

NEW YORK

A New York City jury has begun its second week of deliberations at a big insider trading case involving hedge funds.

Jurors deliberated over the course of five days last week without a verdict in the closely watched case of Sri Lanka-born hedge fund manager Raj Rajaratnam (rahj rah-juh-RUHT'-nuhm).

The Manhattan trial featured secretly recorded phone calls of Rajaratnam and other Wall Street insiders talking about earnings and mergers. Prosecutors say the wiretaps prove the Galleon Group chief made tens of millions of dollars by trading on inside tips.

Lawyers for Rajaratnam argue he relied on public information and complex analysis for his decisions.

The jury resumed deliberations on Monday morning.