Gupta Tries To Get Insider Trading Charge Wiped Out

Law360, New York (February 22, 2012, 4:22 PM EST) -- Former Goldman Sachs Group Inc. director Rajat Gupta sought to dismiss one of the six securities fraud counts against him Tuesday, arguing prosecutors had neglected to identify the specific trades he allegedly influenced by sharing inside information with imprisoned Galleon Group founder Raj Rajaratnam.

In a motion and accompanying memorandum, Gupta asks a New York federal court to nix allegations that he tipped Rajaratnam off to a better-than-expected earnings report from Goldman prior to its release in March 2007, prompting the now-disgraced hedge fund manager to...
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