"After weeks of speculation on Wall Street, prosecutors brought a fresh round of insider trading charges on Thursday that left no doubt they were aiming at hedge funds and the networks of market gossip that are endemic on trading floors.

The charges, against 14 money managers, lawyers and other investors, followed the arrest last month of a hedge fund billionaire, Raj Rajaratnam, on charges that he had profited from inside information.

The case has also touched the tech world. This week, Hector Ruiz, former CEO of Advanced Micro Devices, stepped down as chairman of AMD spin-off Globalfoundries. Ruiz is not charged but is linked to the Galleon case in a U.S. attorney's complaint. In addition, Robert Moffat, a senior vice president at IBM who is charged in the case, has left the company. Others at IBM and Intel have been charged as well."

http://news.cnet.com/14-more-charged-with-insider-trading/2100-1014_3-6250228.html