Gupta Challenges $14M Insider Trading Fine In 2nd Circ.

Law360, New York (November 5, 2013, 3:46 PM EST) -- Former Goldman Sachs Group Inc. director Rajat Gupta on Monday asked the Second Circuit to overturn a $13.9 million civil judgment in the U.S. Securities and Exchange Commission’s insider trading case, arguing the penalty was excessive in light of an earlier $5 million criminal fine.

Gupta's attorneys at Kramer Levin Naftalis & Frankel LLP and WilmerHale also criticized orders barring Gupta from the securities industry and from again serving as an officer or director of a public company, saying they "serve only to punish and stigmatize...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

United States Securities and E v. Gupta


Case Number

13-3062

Court

Appellate - 2nd Circuit

Nature of Suit

1850 STATUTES-Secur Comm Exchange

Date Filed

August 14, 2013

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.