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Rajat Gupta says the Commission violated his rights over stock accusations.
July 11, 2011
By: TOM BRANNA
Editor
Rajat Gupta, the former Goldman Sachs director, can proceed with a suit claiming the U.S. Securities and Exchange Commission violated his rights when it filed an administrative action accusing him of passing illegal stock tips. The SEC initiated the administrative proceeding in Washington on March 1, claiming Gupta passed information to Galleon Group LLC co-founder Raj Rajaratnam about Goldman Sachs and Procter & Gamble, where Gupta was also on the board. U.S. District Judge Jed Rako...
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