Rajat Gupta Ordered to Repay Goldman Sachs $6.2 Million for Attorney’s Fees

By | The D & O Diary | February 26, 2013
Rajat Gupta Ordered to Repay Goldman Sachs $6.2 Million for Attorney’s Fees

By the time you read this blog post, you undoubtedly will have seen one of the stories in the mainstream media reporting on the February 25, 2013 decision of Southern District Court Jed Rakoff ordering former Goldman Sachs director Rajat Gupta to repay most of the legal fees the company incurred in connection with the government’s investigation and prosecution of Gupta.

Rajat Gupta Convicted of Conspiracy and Insider Trading

Rajat Gupta, the former Managing Director of McKinsey & Company and board member at Goldman Sachs and Procter & Gamble, was convicted on four of six counts by a federal jury in New York today for providing nonpublic material information to Raj Rajaratnam in 2008. Specifically, Mr. Gupta was convicted of conspiring to commit insider trading and three counts of insider trading (but was acquitted on two other counts of insider trading).

Will Raj Rajaratnam Testify Against Rajat Gupta?

By | Cady Bar the Door | May 24, 2012

Rajat Gupta’s insider trading trial is proceeding apace in the Southern District of New York.  While there have certainly been enough entertaining witnesses to keep close observers busy so far, none would be as Earth-shaking as news of Raj Rajaratnam’s testimony.  As you know if you’re reading this post, Rajaratnam was convicted in the same courthouse last year for insider trading in a large number of issuers.

Solidifying Business Contacts or Insider Trading? – Why Compliance with Confidentiality Policies is Important in the Race to Get Ahead

Solidifying Business Contacts or Insider Trading?  – Why Compliance with Confidentiality Policies is Important in the Race to Get Ahead

By Jana C. Volante

On Monday, May 21, 2012, in the Southern District of New York, Rajat Gupta’s trial began. Gupta is charged with six criminal counts all related to insider trading, more specifically five counts of securities fraud and one count of conspiracy. If convicted, Gupta faces up to 25 years in prison. Barnini Chakraborty, “High-Profile Rajat Gupta Trial Underway; Blankfein, Buffett Could Be Called to Testify”, FOXBusiness, May 21, 2012.

Judge Rakoff Issues Opinion in Civil Gupta Case Explaining Why He Will Not Compel the SEC to Produce Documents Relating to Settlement Negotiations

In a Memorandum Order entered on May 1, 2012, Judge Jed Rakoff formally denied a motion to compel by Rajat Gupta and Raj Rajaratnam, who were seeking an order that the SEC produce documents concerning settlement negotiations between the Commission and cooperating witnesses. In an April 11, 2012 telephone conference, Judge Rakoff tentatively ruled in the Commission’s favor, but allowed the parties to submit letter briefs on the issue.