July 18, 2018

Rajat Gupta May Sue SEC

“Former Goldman Sachs director Rajat Gupta is considering a lawsuit against the SEC for denying him the right to a jury trial. The SEC is accusing Gupta of passing insider trading tips, including information about a $5 billion investment in Goldman Sachs from Berkshire Hathaway, to recently convicted Galleon Group hedge fund founder Raj Rajaratnam.

Rajat Gupta May Sue SEC

The SEC initiated administrative proceedings against Gupta and despite there being no apparent difference between him and 28 other alleged co-conspirators of Rajaratnam, Gupta is the only co-defendant the SEC is pursuing on these charges from the Galleon case. The SEC attempted to dismiss Gupta’s case but the U.S. District Court judge rejected the motion to dismiss and said in his ruling that the case had merit on equal protection grounds since the SEC has established a history of singling out Gupta for prosecution over identical co-defendants.”


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