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,...
To view the full article, register now.

Documents

Related

Sections

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

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.