2nd Circ. Grants Gupta's Bail Bid

Law360, New York (December 4, 2012, 3:36 PM EST) -- Former Goldman Sachs Group Inc. director Rajat Gupta can remain free on bail while he appeals his conviction for providing insider information to hedge fund founder Raj Rajaratnam, the Second Circuit ruled Tuesday.

A two-judge panel granted Gupta's request to put off the beginning of his two-year prison sentence while his lawyers try to argue that the evidence in the case was not sufficient. Gupta, a business luminary known for his stint as the first non-U.S. born leader of the multinational consultancy McKinsey & Co., was...
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