Ex-Goldman Exec Sues SEC Over Galleon Action

Law360, New York (March 18, 2011, 3:50 PM EDT) -- A former Goldman Sachs Group Inc. director accused of leaking inside information to Galleon Group LLC founder Raj Rajaratnam sued the U.S. Securities and Exchange Commission in New York on Friday over an administrative action it launched earlier in March.

In a complaint filed in the U.S. District Court for the Southern District of New York, Rajat K. Gupta accuses the SEC of “unfairly and unconstitutionally” singling him out by pursuing an administrative action rather than a civil suit.

“Mr. Gupta denies all allegations of wrongdoing,...
To view the full article, register now.