SEC v. Kieran Taylor, Case No. 13-cv-6670 (S.D.N.Y.).  On September 20, 2013, the SEC filed insider trading charges against Kieran Taylor alleging he got confidential information indicating that Akamai would fall short of previous revenue projections it made publicly.  Akamai was planning to update its revenue guidance for 2008 when it announced its second quarter financial results on July 30.  Based on the tip, Taylor sold his Akamai stock.  He also tipped Taylor also tipped Danielle Chiesi, a friend who was then a portfolio manager at hedge fund advisory firm New Castle Funds.  Chiesi then got New Castle to short sell Akamai stock.  The SEC alleges that Chiesi tipped other hedge fund managers including Rajaratnam with the inside information so Galleon Management and other firms could short Akamai stock.  The SEC charged Rajaratnam and Chiesi with insider trading in October 2009.  The SEC’s complaint charges Taylor with violations of Section 10(b) of the Exchange Act and Rule 10b-5, and Section 17(a) of the Securities Act.  Taylor agreed to pay $20,635 in disgorgement, $4,190.26 in prejudgment interest, and a $120,635 penalty.  Without admitting or denying the charges, Taylor also agreed to be barred from serving as an officer or director of a public company for five years, and be permanently enjoined from future violations of these provisions of the federal securities laws.