Rajat Gupta Accuses PE Firm Co-Founder Of Power Grab

Law360, New York (March 21, 2013, 6:29 PM EDT) -- Former Goldman Sachs Group Inc. director and convicted insider trader Rajat Gupta on Thursday accused the CEO of the $1.4 billion private equity firm he co-founded of wrongfully trying to take control of the company by thwarting Gupta’s chosen successors.

Gupta, who stepped down as a member of the New Silk Road LLC in February 2012, claims in New York federal court that CEO Parag Saxena is delaying the appointment of Gupta’s hand-picked successor on the company board in “a bad faith effort to gain complete...
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