Ex-Goldman Director Gupta, SEC Agree To Drop Claims

Law360, New York (August 4, 2011, 9:14 PM EDT) -- Ex-Goldman Sachs Group Inc. director Rajat K. Gupta, who was implicated in the Galleon Group LLC insider trading scandal, resolved a dispute with securities regulators Thursday in New York over an administrative action against the former executive.

The U.S. Securities and Exchange Commission agreed to drop its administrative proceeding against Gupta, who in turn dropped his suit against the agency challenging the constitutionality of its action, according to U.S. District Judge Jed S. Rakoff.

Gupta, a former McKinsey & Co. senior executive and prominent business leader,...
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