Sentencing Day: Billionaire hedge fund manager Raj Rajaratnam will be sentenced this morning in Manhattan federal district court to what many expect will be one of the longest-ever prison terms in an insider trading case. The Wall Street Journal reports prosecutors are seeking a term of imprisonment from about 19 years to 24. More coverage here. On the insider trading front, The New York Times reports on the 30-month sentence for Manhattan attorney Michael Kimelman. Additional coverage of the Kimelman case, from The New York Law Journal, here.
Strip Inspection: The National Law Journal's Marcia Coyle has a report on argument in the U.S. Supreme Court over whether jailers can conduct strip searches of all detainees, no matter how minor the offense. Coverage of the day's proceedings here from The New York Times.
ATM Suits: A trade group representing operators of ATMs is suing Visa Inc. and MasterCard Inc. in Washington federal district court, alleging the companies fix prices and stifle competition. Bloomgberg reports the allegations were made by Jacksonville, Fla.-based National ATM Council Inc.
Amateurs: Federal officials are describing as sloppy the alleged plot to murder Saudi Arabia's ambassador to the United States, The Washington Post reports. Federal agents at first doubted Iran's link to the alleged scheme.
Tweet (TM): California's Recorder reports Twitter Inc. now has the trademark rights to the word "tweet." The company reached an agreement in a suit in San Francisco federal district court.
BlackOutBerry: The Wall Street Journal reports on BlackBerry maker Research in Motion Ltd.'s struggle to restore service to millions of consumers around the world.