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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Case Information

Case Title

Gupta v. Securities and Exchange Commission


Case Number

1:11-cv-01900

Court

New York Southern

Nature of Suit

Other Statutory Actions

Judge

Jed S. Rakoff

Date Filed

March 18, 2011

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