Goldman Sachs Investor Asks 2nd Circ. To Renew Gupta Suit

Law360, New York (January 8, 2013, 7:16 PM EST) -- A Goldman Sachs Group Inc. investor on Tuesday asked the Second Circuit to reopen a lawsuit aimed at forcing former Goldman director Rajat Gupta to pay for passing insider tips to friend Raj Rajaratnam, arguing that Gupta himself must have been paid.

Gupta would not have tipped Rajaratnam unless he was receiving some benefit, a lawyer for investor James Mercer told a three-judge panel at oral arguments in Manhattan.

“This was plainly an opportunity to directly profit,” said Jeffrey I. Tilden of Gordon Tilden Thomas &...
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