Rajaratnam seeks reversal of his verdict

Galleon Group LLC cofounder Raj Rajaratnam is to ask a federal appeals court to set aside his conviction for directing the biggest hedge fund insider trading scheme in US history oneday after a key sourceofhis tipswassentencedtotwo years in prison .
The case against Rajaratnam ,convictedlast year ofconspiracy and securities fraud , turned on the first significant useof governmentwiretapsin an insider-trading case .His lawyers arguetheUS , required to exhaust other avenues of inquiry before resorting to electronic surveillance , hid the existence of a related SEC investigation from a federal judge when seeking permission for a wiretap .